Posted on: 02nd Dec, 2008 09:06am
Sometimes it may be the case that your name is on the property deed but not on the mortgage loan. In such situation, one pertinent question that may come to your mind is that, “Am I responsible for the mortgage dues?†The answer is no. You are not at all responsible for paying the mortgage dues, though you have ownership rights in the property.
But in the event of any legal action taken against the property such as foreclosure, responsibility will lie on you too, since you are an owner. In case of foreclosure of the property, your credit position will be negatively hit.
But in the event of any legal action taken against the property such as foreclosure, responsibility will lie on you too, since you are an owner. In case of foreclosure of the property, your credit position will be negatively hit.
My Name is On Deed, But not Loan, am I responsible for past loans against my house?...My husband recently put my name on the Deed to our House. I was never on the loan papers. If he made a loan using our home as collateral prior to our marriage would I be responsible for payment of that note?
When my sister passed I became executor of her house. I am on deed but not on mortgage. I'm looking to move out but H.O.A. Says I owe a few thousand dollars do I have a obligation to them if I let the house go into foreclosure.
Hi Robert,
HOA dues are definitely your obligation. The HOA will try to recover the dues at the time of foreclosure or else will come after you for it.
HOA dues are definitely your obligation. The HOA will try to recover the dues at the time of foreclosure or else will come after you for it.
my wife and her exboyfriend bought a mobile home together then broke up. after 9 months he came back wanting mobile home or the money he paid for it. the title to mobile home is in and always from day one been in my wifes name. he never was on the lease, never resided in mobile home, my wife paid all taxes on mobile home as well as the utilities and lot rent. can he take back mobile home from her? and does she owe him any money?
Hi rar,
If the boyfriend's name is not mentioned on the property title. then he cannot claim any share in that property.
If the boyfriend's name is not mentioned on the property title. then he cannot claim any share in that property.
Question, I have been divorced for 7 years now. and my ex husband is now in the process of getting divorced for the second time.Before our divorce was final he purchased another home with his girlfriend at the time. I was informed and recieved a copy of the title to there home. On the title it states that he was a married person at the time of the sale. I do believe that makes me part owner of this property am I correct to assume this. And am I entitled to compensation to relinquish my signature of the title? And how would that be split. I'm assuming his new ex will want him to buy her out.
Hi Pumpa,
It will depend upon your state laws whether or not you will have part ownership on that property. You should contact a real estate attorney and take his opinion in this regard.
Thanks
It will depend upon your state laws whether or not you will have part ownership on that property. You should contact a real estate attorney and take his opinion in this regard.
Thanks
my mother and i wee on the deed of their house and my father some how got a Reverse Mortgage on the house but i never signed anything and now they have both passed away, am i responsible to pay that back as i never new about it or signed anything for him to do that
Welcome daltvet,
If you wish to save the property, then you will have to refinance the mortgage and pay off the dues. If you do not wish to save the property, then you will have to surrender the property to the lender who will sell it off to recover the payments.
If you wish to save the property, then you will have to refinance the mortgage and pay off the dues. If you do not wish to save the property, then you will have to surrender the property to the lender who will sell it off to recover the payments.
My boyfriend of 14 years and I purchased a home in PA. His name is solely on the loan but both our names are on the Title & Deed. PA does not recognize Common Law, not that it matters, I'm still married. I've been separated from my husband for 15 years...who just happened to purchase a home recently in Wisconsin. Do I own half of the house in PA? My name appears nowhere on the home in Wisconsin, but because I am still married, am I entitled to half of that home? Let me add I would never lay any claim to the husbands home, we are still great friends.
Hi cizz_my_azz,
If your name is mentioned on the title deed of the property in PA, then you will be considered as the half owner of the property. If your name is not mentioned on the property deed of the Wisconsin home, then you do not own that property.
If your name is mentioned on the title deed of the property in PA, then you will be considered as the half owner of the property. If your name is not mentioned on the property deed of the Wisconsin home, then you do not own that property.
Husband quit claimed his interest in my property back to me. Loan is with Citimortgage. I am not on the note but only on the title. Husband then filed bankruptcy. I continued to make payments on the property while he was in bankruptcy for 2 years. Suddenly Citi decided I needed a POA or they were not going to accept my payments. Husband refused to give POA or do a modification as he was court ordered to do . Citi states that I can not sell the property or refinance as he is on the note alone and refuses to give Limited POA. This is strange to me because he filed BK against the note to Citi. I am on title and Citi is trying to foreclose because they will not accept my payment as I am not on the note therefore I am in the rears on payments but they won't accept my money. What are my rights? This was my property prior to our marriage. How can they foreclose when I have the money in the bank to pay for this property in full?
Hi Renoir,
As your name is not on the mortgage, the lender is not liable to accept the payment from you. It will be better if you could speak to your attorney in this regard and check out the available options.
Thanks
As your name is not on the mortgage, the lender is not liable to accept the payment from you. It will be better if you could speak to your attorney in this regard and check out the available options.
Thanks
Our inlaws hold the mortgage note due to us not having good credit. We paid in full for the land the mobile home sits on and we are on the property deed not them. If they try to sell the mobile home, which we paid the down payment, we pay everything monthly directly from our checking to the bank, taxes, homeowners ins etc. They have only signed a signature and no money ever or anywhere came from them. Again if they try to seel the home they would have to remove it from our land and could not sell it as it sits now on our property as that they do NOT own. Am I right?
Hi anonymous!
Welcome to the forums!
Is their name mentioned on the property deed? If yes, then they will be able to sell off the property. It will be better if you could take steps to improve your credit and then look out for a loan to refinance the mortgage in your name.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Is their name mentioned on the property deed? If yes, then they will be able to sell off the property. It will be better if you could take steps to improve your credit and then look out for a loan to refinance the mortgage in your name.
Feel free to ask if you've further queries.
Sussane
I have a house under my name and I would like to refinance. Is the loan going to be under my name or under the house?