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 redlady267
Joined: 23 Oct 2009
Posts: 2
1.62 Dollars($)
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 Posted: Fri Oct 23, 2009 6:50 pm Post subject: Will I be affected by foreclosure proceedings? |
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| My spouse and I are both in the mortgage title. We refinance in his name only. I signed the homestead clause. Can I be off the foreclosure proceedings? We are still married. Please help. Thanks. |
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jenkin7
Joined: 04 Jun 2007
Posts: 4207
Location: Hawaii
661.00 Dollars($)
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| Posted: Fri Oct 23, 2009 10:18 pm Post subject: |
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Hi redlady,
Your spouse refinanced the mortgage solely in his name, right? In that case, he is the person who is responsible for the loan. If the property goes into foreclosure, the proceedings should not affect your credit. If you are on the property title, the foreclosure proceedings can include your name. But since your name is not on the loan, you cannot be held responsible for the foreclosure. |
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redlady
Guest
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| Posted: Sat Oct 24, 2009 6:06 am Post subject: Quit claim |
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| Thank you so much for the confirmation. Do I need to quit claim before divorce proceedings? |
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savior70
Joined: 25 Mar 2009
Posts: 1764
Location: Florida
235.39 Dollars($)
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| Posted: Mon Oct 26, 2009 5:43 am Post subject: |
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Hi,
Do you want to give up your interest in the property? If you do, you can sign over your share of property to your spouse. In case you want the full ownership of the house, you can get a quitclaim deed signed by your spouse. It is up to you whether you will transfer the property before or during the divorce proceedings. |
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redlady
Guest
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| Posted: Sat Oct 31, 2009 5:43 pm Post subject: Quit claim |
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| I want my health and freedom more than the house. Besides I know he won't be able to keep it long. Thanks. |
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