Found out I am on the mortgage

[momofrose]

What is the name of your state? New Jersey

My husband bought a house one year ago. Because of my credit problems. we decided it best that he apply for and attain a mortgage on his own. He did. On the closing date. while I was at home with the movers, he was at the attorney's and called me saying I had to come down thereto sign some papers.

When I got there, i asked what this was about and the attoney said, it was just a formality and that inthe state of new jersey both husband and wife have to sign these papers, but it would not affect the mortgage or deed.

Turns out...while not on the mortgage I am on the deed. This is not good. I have an outstanding judgement against me, (which Iam paying off but it will take a long time)...that means (I suppose) it is also against the house. Can I transfer this to just my husband's name even with a judgement against me??

Any helpful advice is greatly appreciated.

[Ladynred]

You need to find out if a lien was filed against the property. Call the court and find out if one has been placed.

I'm not sure, but I think you could sign a quit-claim deed and get your name off of it. Sr. Members ????

Just out of curiousity... What kind of tenancy is listed on the deed?

[momofrose]

Thank you...which court do I call? Would that be noted on my credit report?
Also..I apologize for sounding ignorant but what is "tenancy"?

My husband actually tried to re-finance (with a lower rate) but they would not give it to him because I had a judgement against me...thats when we found out I was actually on the deed.

If I can get off the deed, does anyone know the name of the form I would need? Can I do this myself, or do we need a layer?

Thanks so much for your help

[bigun]

To remove your name from the deed, you need to sign a "quit claim deed". If you are contemplating bk in the next year or so, I'd seek legal advice prior to filing the quit claim.

[momofrose]

Thanks..I am not filing for bankruptcy, but thank you for that added advice.

Can we do this ourselves? After reading the respsonse regarding a quit claim deed...I looked it up on th net and found several sites that sell this for about $15.00...I would imagine it comes with complete instructions on how to fill it out and who a copy get sent to (mortgage co etc.)

Just want to make sure I can do this with a judgement against me...can I?

Thanks so much, I'm almost breathing a little bit easier.

[bigun]

It's a pretty simple document. You can get it at the local Probate Judges' office. It's self explanatory. Fill it out and have it notarized and file it with the P.J. In about a month, a copy will be returned to you with a letter confirming that it has been filed. Needless to say, keep those forever.

Since you're paying on the judgement, I doubt the creditor even knows you have ownership in a house. I don' think I'd alert them either.

[momofrose]

THANK YOU