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deb04
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 Posted: Tue Mar 09, 2010 1:52 pm Post subject: forclosure question |
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Help please! my name was on deed to mom's house. my name was taken off when sold, buyer abandened property and quick claimed deed back to mom only. she lost her job and is now going through a forclosure. i just found out i am on the forclosure as owner and they will not take me off. I never lived there. Will they come after me for balance owed after auction? I own my own home, can they take it? i am not on loan. we live in AZ
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 jheard
Moderator
Joined: 12 Dec 2007
Posts: 678
Location: Houston, TX
108.69 Dollars($)
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| Posted: Tue Mar 09, 2010 2:28 pm Post subject: |
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Prepare and file a quitclaim deed to your mom and send a copy to the attorney foreclosing. Otherwise, you will be liable and it will go on your credit history.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation. |
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deb04
Guest
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| Posted: Tue Mar 09, 2010 6:23 pm Post subject: |
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| Thank you. I will do that. I sent the Tax Report showing I was no longer on deed and they told me they were going to file a quick claim to add me back on. |
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jenkin7
Joined: 04 Jun 2007
Posts: 4540
Location: Hawaii
728.42 Dollars($)
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| Posted: Tue Mar 09, 2010 11:40 pm Post subject: |
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Hi deb,
I don't think the foreclosure will affect your credit in any way. You are not responsible for the repayment of the mortgage unless you signed on the promissory note. Since you are not on the loan and never signed on the mortgage note, you are not responsible for the loan. However, if your name is on the title, the foreclosure notice will show your name. But this should not affect your credit scores negatively. |
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