I'm guessing that you need to CALL an attorney NOW. Sounds like a collector and/or repoman has been telling you what they think you need to hear. (Blowing Smoke)
No one blowing smoke, just trying to see if one can avoid having a jointly owned house attached to a deficiency judgement?
if i get my car repossessed, can they put a llien on the house?
A home can get repossessed in many ways, the most common reason is that they owner of the house has not payed the bank the loan that they took out so as to by the house, or that the person hasn't pay many bills so they take the equivalent of the unpaid bills.
If your partner acquired her interest by virtue of a deed then the answer is no. The only person who can "sign off" their interest in the title to property is the person who own the interest.
no i dont think any body would like their house repossessed because that will mean your a tramp, then u will be put in a dangerous place .. :'(
Unless you conveyed a portion of the house or were legally married, the former partner has no interest in your property.
Most likely not depending on what financial situation you're in.
then theyre out of a home
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
Borrow more, or Buy a second house.
It is possible to work out a deal with the bank after it is repossessed. However, a new loan or legal agreement will have to be signed.
In general, yes, if you haven't files bankruptcy.
Yes, they will pay. Insurable interest is a question at the time the policy is sold, not at the time the claim happens.