only husband signed mortgage note

[emptynest]

only the husband signed the mortgage note, but the wife's name is also on the title, can a bank foreclose? new jersey

[FlyingRon]

If the note is only in his name, then yes.

[LindaP777]

Originally Posted by emptynest

only the husband signed the mortgage note, but the wife's name is also on the title, can a bank foreclose? new jersey

Of course they can! If not, every dishonest America would use this scam to get out of a mortgage. Think about it!

[12345672]

I did some searching when trying to find an answer for my question (about one owner, non-spouse, mortgaging a property without the other owner's knowledge) in another thread and found that different states treat this situation differently. At least one state (Iowa) apparently now requires spouses to sign even if they are not on the property deed, or else the mortgage can be ruled void by the courts. I also found instructions regarding procedures of several title insurance companies indicating that if all the parties on the deed, and possibly their spouses too, must sign for the title to be insurable for the mortgage.

Google - spouse sign mortgage void
I found the article on the blog qcattorney interesting.
I do not know what restrictions New Jersey has and what rules would apply there.
I do not know what restrictions apply for my question in my state of Georgia, hence the question being asked.

Hopefully someone with some experience in this field can point you towards some resources which could help you understand your position and options, other than the standard answer of - seek an attorney.

[nextwife]

Originally Posted by 12345672

I did some searching when trying to find an answer for my question (about one owner, non-spouse, mortgaging a property without the other owner's knowledge) in another thread and found that different states treat this situation differently. At least one state (Iowa) apparently now requires spouses to sign even if they are not on the property deed, or else the mortgage can be ruled void by the courts. I also found instructions regarding procedures of several title insurance companies indicating that if all the parties on the deed, and possibly their spouses too, must sign for the title to be insurable for the mortgage.

Google - spouse sign mortgage void
I found the article on the blog qcattorney interesting.
I do not know what restrictions New Jersey has and what rules would apply there.
I do not know what restrictions apply for my question in my state of Georgia, hence the question being asked.

Hopefully someone with some experience in this field can point you towards some resources which could help you understand your position and options, other than the standard answer of - seek an attorney.

The poster never stated the order of events. Thus we do not know if the mortgage occurred during the marriage or behind anyone's back. The poster ONLY stated:

Originally Posted by emptynest

only the husband signed the mortgage note, but the wife's name is also on the title, can a bank foreclose? new jersey

It's entirely possible for:

A. a home that was premarital property in one spouses name that was refinanced or had a mortgage with just one spouse. The wife could have been added AFTER the mortgage.

B. A property previously held as investment and refinanced during the marriage (non-homestead separate property is treated differently in many states) becomes homestead at some point.

[FlyingRon]

Most lenders will not issue mortgages on property with more owners than those listed on the mortgage. So the likely possibilities are:

1. Wife is on mortgage but never signed. In this case there are serious questions as to the validity of the mortgage.

2. Husband transferred interest to the wife after the note was issued. The house can still be foreclosed upon. The security for the mortgage applies to the property in total even when some of it has been deeded away (the grantee of such deed is subject to the original lien even if they are not obligated to make payments on the loan themselves).

[emptynest]

the husband and wife signed the mortgage, but the mortgage note is only in the name of the husband. question is, in nj, do both names have to be on the note as well

[nextwife]

If she SIGNED the mortgage, I doubt she can stop the FC. Unless she brings the loan current. THAT would do the trick.