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Name is not on the mortgage

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zoyaklain Joined: 25 Mar 2011 Posts: 1 1.27 Dollars($)	Posted: Fri Mar 25, 2011 5:25 pm    Post subject: Name is not on the mortgage Like 0 Dislike 0 Hi, if onlt one spouse is on the mortgage and both on the deed and the one off the mortgage passes, is another responcible for the mortgage left behind?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri Mar 25, 2011 8:41 pm    Post subject: Like 0 Dislike 0 Hi zoyaklain! Welcome to forums! If the person wants to save the property, then he or she can refinance the mortgage into his/her name and pay off the mortgage dues on time. If the lender does not receive his dues on time, then he will foreclose the property to recover the dues. Feel free to ask if you've further queries. Sussane
dipaligopale Joined: 25 May 2010 Posts: 790 22.70 Dollars($)	Posted: Sat Mar 26, 2011 12:29 am    Post subject: Like 0 Dislike 0 Hi zoyaklain, Welcome to mortgage fit, Another consideration is that if there is any sort of insurance of the mortgage on the name of the person who is on the mortgage...then the liability to pay the remaining amount to the lender goes to the insurance company...you must check this out before taking any step in this regard... Feel free to ask any further query if you have..... DIPA _________________ 1.The best of intentions must still have directions !--Unknown author 2.When I hear somebody sigh, "Life is hard," I am always tempted to ask, "Compared to what?" - Sydney J. Harris

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