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staceyxnyc · Joined: 17 Mar 2010 Posts: 1 1.36 Dollars($)

I am not on the LOAN, but on the DEED. Getting divorced... House is up for short sale, and we have both been served with foreclosure papers. After either foreclosure or short sale, I know that in FL the bank can still make you OWE money. How do I get myself out of that responsibility? Will a Quit Claim do it? Is it too late to do a Quit Claim because I've already been served with foreclosure? Will I automatically NOT be responsible because my name is not on the Loan? Please help and thank you!

jameshogg · Posted: Wed Mar 17, 2010 8:53 pm Post subject:

Hi staceyxnyc,

As your name is not mentioned on the mortgage documents, you won't be liable for the loan payments in any way. If the property is foreclosed upon or if it goes for a short sale, the lender won't be able to sue you for the deficient balance resulting from the sale.

Thanks

Guest

You confirmed what a friend and a title agent told me- I truly appreciate the speedy reply...

jameshogg · Posted: Wed Mar 17, 2010 10:19 pm Post subject:

You're most welcome, Stacey Smile

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Getting Divorce, On the title NOT loan-If there are "repercussion payments" after foreclosure OR short sale, will I be held responsible for half?

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