Foreclosure

[duvalgal]

Just divorced. My name is on the deed to the house and on the mortgage, but loan is in my ex-husband's name only. What happens if he defaults on the loan? Can I protect myself by having my name removed from the deed. There is no equity in the property.

 

[HomeGuru]

Just divorced. My name is on the deed to the house and on the mortgage, but loan is in my ex-husband's name only. What happens if he defaults on the loan? Can I protect myself by having my name removed from the deed. There is no equity in the property.

My response: please clarify since if your name is on the mortgage it is on the loan.

 

[duvalgal]

I'm in Florida.
My ex-husband thought he could take my name off the house by refinancing in just his name. But, he didn't realize that my name couldn't be taken off since I an on the original deed. At the closing the loan person stated that it was unusual for a person to be on the deed and not on the loan. They let the papers be signed anyway. Now, my name is on the mortgage & deed, but not on the note. The mortgage co. will not give me information on the loan payments since, they say, my name isn't on the loan.
Quite a mess!! Do I have any recourse?

 

[HomeGuru]

Since your name is on the mortgage, you are liable.
The mortgage is the instrument that is recorded on title.