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Guest

My husband passed away June 2007 and he had 3 properties. I was not on the loan of any of these properties I am however on the deed. I have a condo that is now is forclouser and they have sent me a date for a final judgement. They have my name the mortgage company name and also the home owners association. It took me four months before they would even talk to me I cannot sell this condo as the property would not sell for what the mortgage is. The date is set for august 4 Do I have to get an attorney will the judge see that my name is on the deed not the loan? The home I live in now is ok But I also have another, that is rented but just not covering the entire mortgage. Help

gmakerley · Posted: Mon Jun 23, 2008 10:56 am Post subject:

unfortunately, your not having signed the mortgage on this property will not prevent the foreclosure from moving forward; unless you can identify the means with which to redeem the property. as you noted, however, selling it will not be sufficient to pay off the debt.

you need not necessarily have an attorney - that is your choice - but it would be worth your trouble to consult with one at the very least. have you had any discussions with the court? that would be worthwhile also.

you also mention a rental property that doesn't cover the debt - can you increase the rental payments? that might help. no matter what, keep on as best you can with your current residence. that, above all, is critical, obviously.

Guest

The summons says final judgement, being that my name was not on the mortgage will I be responsible. Do I show up at the court date which is set to take only 5 minutes???

gmakerley · Posted: Mon Jun 23, 2008 11:12 am Post subject:

you have responsibility as the owner of the property. if, as you say, you don't have the wherewithal to squash the foreclosure action, then it will go forward. have you had a discussion with the court? that would settle your mind somewhat, i believe.

laphillips · Posted: Mon Jun 23, 2008 1:14 pm Post subject: Name on deed not on mortgage

Miami Dade, I received your message unfortunately without an email address I can only respond in the general forum.
I'm sorry to hear of your husband's passing & you present foreclosure problems.

I'm not familiar with FL foreclosure timelines or laws but as George said, unfortunately even if you are not signed on the loan it does hold your property as security which gives them the right to foreclose when payment is not received. I doubt that an attorney or judge would be of any help...just another expense although you may want to consult an attorney to verify the advice - as I said I'm not familiar with FL foreclosure law.

I'm sorry. Crying or Very sad

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi miami,

Welcome to the forum.

Can you afford to continue to pay the mortgage payments? If you can then I would suggest you to talk with the lender ASAP and see if he can give you some options to avoid the foreclosure. I think you need to take the mortgage on your name by refinancing as you are not on the mortgage.

BTW if you cannot afford the payments or don't want these properties any more then you can ask the lender to at least accept the deed in lieu of foreclosure. If he accepts the deed in lieu of foreclosure then he will not come after you for the deficiency judgment.

BTW it is always better to consult with an attorney although it will cost you some $$$

Feel free to ask if you have any further questions.

Best of luck,
Larry

Guest

I know that it is going to forclouser but my concern right now is that a judgement will be placed on me. Can this happen? Can they come after me ? I am not on the loan only on the title.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi miami,

Welcome back.

I think the lender should not come after you for the deficiency judgment as you are not on the mortgage. They can just foreclose. But it will have a negative impact on your credit report as you were the legal owner of those properties.

Feel free to ask if you have any further questions.

Best of luck,
Larry

laphillips · Posted: Tue Jun 24, 2008 8:46 am Post subject: Name on deed but not on mortgage.

In a word, YES. Whether or not your name is on the mortgage you can and unless you take action will lose the property!

Guest

There is really nothing that I can do to save the condo, what I am worried about is the home I live in and if they can put a lien on that property, and place a judgement on me, take my money and the little that I have left. I cannot afford an attorney. I checked my credit and the mortgage is not on there. I do not want them to place a judgement on me.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Miami.

I have said you before that as you are not on the mortgage, the lender should not come after you but if you get a judgment against you then you cannot help but pay it. So your best bet is to consult with an attorney. It may cost you some dollars but he will direct you in the right way.

Best of luck,
Larry

Guest

my wife and i purchased a house in 2006 i'm not on the loan but on the deed.i'm 4 months behind on my mortgage because my wife moved beck to her native country and i couldn't locate her .do i have any rights to this property? because i'd like to work out something with the bank or just forget about it and foreclose?

jerry · Posted: Wed Nov 19, 2008 2:23 am Post subject:

Hi max!

If your name is not on the loan, then you do not have any obligation to pay off the loan. As you are on the deed, you may pay the dues to save the property. You have full rights to the property and also own the property. The lender may try to foreclose the property if your wife or you do not pay off the debts. I think you should speak to the lender and check if he can give you any option for loan modification.

Thanks,

Jerry

Guest

My husband and I are going through a divorce and I am not on the mortgage, but I am on the deed. His attorney is asking my attorney to pay him half of the mortgage which I told my attorney that since he refinanced on the house 2 years in a row, he said he would handle it...so I do not feel I have to pay anything on the mortgage....

Also, I just found out that he is not even paying the mortgage and he is 45 days behind and he is telling his lawyer that he needs help paying...

My question is am I liable on the mortgage when it is just his name??

gmakerley · Posted: Wed Feb 18, 2009 8:24 am Post subject:

you are not liable for making payments on any debt that is not your own. however, if you wish to protect the property from legal proceedings, you could take it upon yourself to do so. as an owner of the property, you are subject to whatever legal proceedings take place, such as a foreclosure.

you and he and the two attorneys need to come to a settlement of some sort. if neither of you wishes to keep the home, then selling would be the most favorable option, of course.

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Name on deed but not on mortgage.