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If the husband's name is never on the loan but is on the deed is he responsible for debt?
Wiki User
∙ 13y ago
No. If he didn't sign the mortgage then he is not responsible for paying it.
Wiki User
∙ 13y ago
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When a spouse is borrowing money and the wife must sign the mortgage does her name have to be on the warranty deed?
Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.
Who is responsible party from time of quit deed to recording of deed?
The owner of record is responsible for the property until the deed is recorded.The owner of record is responsible for the property until the deed is recorded.The owner of record is responsible for the property until the deed is recorded.The owner of record is responsible for the property until the deed is recorded.
Who pays homeowner assoc. fees the mortgage holder or the deed holder?
The deed holder is responsible for paying the HOA fees.The deed holder is responsible for paying the HOA fees.The deed holder is responsible for paying the HOA fees.The deed holder is responsible for paying the HOA fees.
Are you liable if you are getting a divorce and your house is facing foreclosure but your name is not on the deed?
Getting a devorce and house is facing forclosure but my name is not on deed. Am I liable.
Your husband is on title quit claim deed and mortgage is he responsible for paying mortgage?
Yes. He is the sole owner of the real estate and the sole owner of the debt.
If a husband dies will a wife be responsible for the mortgage debt even if she is not on the note?
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
What is a Rescission of security deed to secure debt?
This means that the escrow paid off the first trust deed using the money from a refinancing. The cancellation of deed to secure debt occurs if a person refinances their mortgage.
What does a good deed is never lost mean?
This phrase conveys the idea that performing acts of kindness or helping others has a lasting impact, even if the immediate benefits are not apparent. Good deeds contribute to creating positive energy and may lead to unexpected rewards or positive outcomes in the future.
If a relative who is on the deed to your house owes an outstanding debt can the debt collector put a lien on your house?
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If your husband is a co-applicant for a mortgage loan can you be held liable for the debt if the loan is in default?
Keyword here is "Co-applicant" ... Both of you are equally responsible and liable for the debt. If your name is not listed on the mortgage deed, then there would be little recourse in coming after you for the amount owed.
Does wife's co signing a mortbage make her a joint owner?
No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.
My husband and I agreed in a divorce decree I could stay in our home until it is sold and I am not on the loan or the deed am I legally responsible for the debt?
Was this house purchased during the time you were married? If that is the case, it is joint property regardless of whose name is on the loan and deed. You are responsible for the debt in the amount assigned to you when your marital assets and liabilities were distributed. If it has been decided that you have no interest in the property, then you are not responsible for the debt. Your agreement to stay in the house until it is sold is something that will be hard to enforce should you decide to leave. Check with your attorney, but I don't think you are obligated in any way to a house that is not yours and is not going to be your responsibility. Tell your ex you can no longer stay there and let him worry about his property.
