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On the deed not the note...can the bank sue me?

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mayogotnet Joined: 13 Jul 2010 Posts: 1 1.37 Dollars($)	Posted: Tue Jul 13, 2010 12:36 pm    Post subject: On the deed not the note...can the bank sue me? Like 0 Dislike 0 My husband and I bought a home in PA where he is on the mortgage note but not me. We are both on the mortgage deed. We recently divorced and in the agreement I am deeding the property over to him. I am not off the deed officially yet and now the bank is foreclosing. Am I responsible for the mortgage debt since I'm not on the loan? If I ignore the complaint and the house gets foreclosed on, can the bank report that to my credit? The divorce agreement is dated April 22, 2010 and the foreclosure started June 26, 2010.Cant afford an attorney, what should I do?
sara Moderator Joined: 05 Jul 2006 Posts: 2699 Location: New Brunswick, New Jersey 497.27 Dollars($)	Posted: Wed Jul 14, 2010 3:23 am    Post subject: Like 0 Dislike 0 Hi mayogotnet, As your name is not on the mortgage note, you are not personally liable for the loan payments. If the lender forecloses the property, then he would not come after you for the deficient balance resulting from the property sale. Also, your credit won't be affected due to this foreclosure. Take care.
Karenhelp Guest	Posted: Tue Feb 28, 2012 12:38 pm    Post subject: Truth in Lending Like 0 Dislike 0 We purchased a home in 2005 from Sunset mortgage sold to WAMU than to chase, original truth and lending statement states bank would provide through our monthly payments credit life and PMI...we had to provide home owners, now bank states only collected PMI and to bad on Credit Life do we have a case?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Feb 29, 2012 1:02 am    Post subject: Like 0 Dislike 0 Hi Karen! Welcome to forums! You should show the all the required documents to your real estate attorney and take his opinion in this matter. He will be able to assist you better and you will be able to know whether or not you can file a case against your lender. Feel free to ask if you've further queries. Sussane

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