Loan in my name but wife listed as defendant

[KYboy]

What is the name of your state? Kentucky

Last year I got a conventional home loan with my down payment money and credit rating. My wife was never on the loan apps.

A year later and separated, we are losing the home, having been served foreclosure papers which lists my wife as a defendant, since, I guess, on the mortgage papers we signed when we closed she signed as a co-borrower.

Is she jointly responsible for the loan or do the attys. for the mortgage co. have it wrong?

Thanks.

KYBoy.

[Zigner]

Originally Posted by KYboy

...on the mortgage papers we signed when we closed she signed as a co-borrower.

Yep - she's also responsible...

[KYboy]

Ok, thanks, but I wasn't sure what you meant by researching Google, etc...

[Zigner]

Originally Posted by KYboy

Ok, thanks, but I wasn't sure what you meant by researching Google, etc...

That's my signature...it's meant to indicate that I am not giving any advice that is not readily available on Google and that my advice should be trusted just about as much as any advice you would find on Google.

[Ohiogal]

Even if she were not on the mortgage, since you are married to her, she has a marital interest in the home and therefore would be listed on the foreclosure as a defendant.

[RMK]

In such a case, what would be the consequences if wife did not show for civil summons? And, how can she be financially responsible if her credit was not considered during the loan process, and her name, while on the deed and other related paperwork, is not on the actual loan?

[RMK]

Kentucky

Originally Posted by RMK

In such a case, what would be the consequences if wife did not show for civil summons? And, how can she be financially responsible if her credit was not considered during the loan process, and her name, while on the deed and other related paperwork, is not on the actual loan?

Also, in this case, the wife was told at closing that the house is not community property in the event of divorce, and that the sole owner is the husband.

[Zigner]

Originally Posted by RMK

Kentucky



Also, in this case, the wife was told at closing that the house is not community property in the event of divorce, and that the sole owner is the husband.

Who told her that? And, was that in writing? In any case, it won't affect the fact that she could be named in a civil suit...

[sleeplessbuddy]

Originally Posted by KYboy

A year later and separated, we are losing the home, having been served foreclosure papers which lists my wife as a defendant, since, I guess, on the mortgage papers we signed when we closed she signed as a co-borrower.

does this mean you never got divorced?

I think if she is still legally married to you even if you are physically separated, she is still financially liable being co-borrower to the original mortgage.

I have a question on this case. Would a quit claim executed by the wife (if they divorced) work in her favor such that she will no longer be financially responsible in any way should the home be foreclosed?