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jnstarb · Joined: 25 Aug 2008 Posts: 12 6.78 Dollars($)

my name is on the warrenty deed. but my name is not on the mortgage, loan or note. does the warrenty deed make me responsable for the debt?

ckalvesmaki · Posted: Mon Aug 25, 2008 5:38 pm Post subject:

No you are not responsible for the note.....HOWEVER if the load does default.....when applying for a mortage in the future.

On the FNMA 1003 Uniform Residential Loan Appl,

Question in Declarations Sect VIII, e states:

e. Have you directly or indirectly been obligated on any
loan which resulted in foreclosure, transfer of title
in lieu of foreclosure, or judgment?
(This would include such loans as home mortgage loans, SBA loans, home improvement loans, educational loans, manufactured (mobile) home loans, any mortgage, financial obligation, bond, or loan guarantee. If “Yes,” provide details, including date, name, and address of Lender, FHA or VA case number, if any, and reasons for the action.)

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what is the difference between a warrenty deed and a security deed?