Q: Name is on the deed not the mortgage. No note signed . Do I lose the house if foreclosure?
My husband bought the house before our marriage. My name is not on the mortgage and I have never signed any permissive note. My husband added my name to the deed because i am paying the mortgage for years( he is jobless for years). The house is at risk for foreclosure because I can't make the payments as I used to . Am I going to lose the house too if it goes for foreclosure or since I have never signed any note the bank can not go after the whole house ? Thank you.
A: The mortgage lender can foreclose on the "whole house", inasmuch as adding you to the title after the Mortgage was recorded makes your ownership interest subject to the Mortgage lien. It the Mortgage holder forecloses, even if you never signed the Mortgage or Note, and the property is sold at a foreclosure sale, your ownership interest will be extinguished.
There are several work-out options available to home owners facing foreclosure, and you should immediately investigate your options.
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