All three owners are equally responsible for paying the mortgage and the foreclosure will affect all owners equally. You can avoid foreclosure by paying the mortgage.
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
That depends on whose name was on the deed when the mortgage was executed.
Yes, the husband can rent the house if he has the Mortgage in his name but the Deed of Trust is shared.
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.
No you can't morgage something that is not legaly yours yet, not in your name.
If the foreclosure hasn't been recorded then look for the name of the lender on the notices that were sent to you. If the foreclosure has taken place, you can also visit the land records office in your jurisdiction, look for your name in the grantor index and look for the recently recorded foreclosure deed. The staff will assist you. The name of the foreclosing lender will appear as a party to the foreclosure deed.
A lender would require that all the owners of the property execute the mortgage. If only one person signs the mortgage and it is later foreclosed, the lender would only get that person't interest. Lender would want ALL the interest conveyed in the mortgage deed.
No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
How do you add a name to a deed
If your name is on the deed then you own the property as long as the deed is valid and properly recorded in the land records.
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