florida law

What is the name of your state?
Florida

I have a couple of questions

Both questions are being asked with the presumption that the mortgage in question is held by the same

I would like to know if a mortgage is held in the names of two people and the mortgage is sold to another financial institution-do both parties need to be notified that the mortgage has been sold? Are there any papers that have to be signed by both parties?

Also-what is the procedure for adding names to a mortgage?-Do you have to refinance? If you do not have to refinance do the people who already hold the mortgage have to sign something?

Thanks for your answer-

Kathy

[HomeGuru]

[quote]Originally posted by maxum
[b]What is the name of your state?
Florida

I have a couple of questions

Both questions are being asked with the presumption that the mortgage in question is held by the same

**A: same what?
************

I would like to know if a mortgage is held in the names of two people and the mortgage is sold to another financial institution-do both parties need to be notified that the mortgage has been sold?

**A: no. There is joint and several liability so the lender only needs to notify one party. Notification to one party is notfication to all parties.
**********
**********

Are there any papers that have to be signed by both parties?

**A: no. The borrowers need not sign any papers .
************
Also-what is the procedure for adding names to a mortgage?-Do you have to refinance?

**A: ask the lender.
************

If you do not have to refinance do the people who already hold the mortgage have to sign something?

**A: see above.

Thanks for your answer-

Kathy

**A: I am not sure what you are getting at with this thread.

Thanks for responding HomeGuru-

What I am getting at is that a Property I jointly own in Florida(with ex husband-he was ordered to have my name removed in 1996-which he has not done) now has a different bank holding the mortgage as well as having a "John Doe" and a "Mary Doe" listed as grantees along with my ex and myself.

I am curious how he can add people to the mortgage without my knowledge, however he claims that he cannot remove my name without refinancing and he claims he cannot afford it. This property had gone into forclosure once (2 years after he was supposed to remove my name) and I received a summons to appear in Florida court. He (the ex) managed to come up with the money so the forclosure did not go through.

Bottom line is that I want my name removed from this property before any more damage is done to my credit. I have had credit cards revoked being told due to late payments on the mortgage accounts.

I hope I have made things a little clearer-

Once again,
Thanks
Kathy

[HomeGuru]

[quote]Originally posted by maxum
[b]Thanks for responding HomeGuru-

What I am getting at is that a Property I jointly own in Florida(with ex husband-he was ordered to have my name removed in 1996-which he has not done)

**A: then what have you been waiting for? You should have
taken him to court years ago and enforced the court order.
**********

now has a different bank holding the mortgage as well as having a "John Doe" and a "Mary Doe" listed as grantees along with my ex and myself.

**A: then these Grantees are unkown parties and there is a flaw with the deed.
***********
I am curious how he can add people to the mortgage without my knowledge,

**A: it is possible.
********


however he claims that he cannot remove my name without refinancing and he claims he cannot afford it. This property had gone into forclosure once (2 years after he was supposed to remove my name) and I received a summons to appear in Florida court. He (the ex) managed to come up with the money so the forclosure did not go through.

**A: irrelevant information.
********
Bottom line is that I want my name removed from this property before any more damage is done to my credit. I have had credit cards revoked being told due to late payments on the mortgage accounts.

I hope I have made things a little clearer-

Once again,
Thanks
Kathy

**A: Kathy, I am a little perplexed at your passive attention to these issues. If you had hired an attorney to enforce the original court order, your troubles would have been over long ago and your credit would not have been damaged as such from 1996 to current.

Thanks again HomeGuru,

You are right about hiring an attorney years ago. My troubles would be over if I had hired one back then. I am in the process of finding an attorney now. Thank you for all your help.

Kathy

[HomeGuru]

[quote]Originally posted by maxum
[b]Thanks again HomeGuru,

You are right about hiring an attorney years ago. My troubles would be over if I had hired one back then. I am in the process of finding an attorney now. Thank you for all your help.

Kathy

**A: Kathy, hope everything works out well and may the force be with you.