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Can a debt collector place a lien on your home if your name is on the deed but not on the mortgage?
Yes. If you own an interest in real estate by deed then the property is vulnerable to your creditors unless the property is held with your legal spouse as tenants by the entirety.
Absolutely right ... and to add:
The only way to get your name off the mortgage loan is to refinance the loan.
Regarding the deed: even if you filed a "quit claim deed", your name does not get removed from the original paperwork. Again, the only way to completely remove your name from any ownership of the residence, is to refinance the loan without your name listed on the note.
What else can I help you with?
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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How do you get your mortgage payments counted on your credit score if you are on the deed but not on the mortgage?
Refinance the mortgage with you listed as a borrower. You will not be reported to the credit bureaus by being listed on the deed since you have no obligation to pay the debt.
Where do you file a mortgage in Georgia?
Well Georgia is a Debt Deed state not a mortgage state. So if you have a debt deed to record you can do it at the clerk's office in the town , city or county where the property is located. Deeds will have to be filed there too.
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.
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.
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.
If the husband's name is never on the loan but is on the deed is he responsible for debt?
No. If he didn't sign the mortgage then he is not responsible for paying it.
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.
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.
What is the definition of deed to secure debt?
This sounds like another way of saying mortgage--the conveyance of property by a debtor to a creditor which, if the debt is not paid, can be kept by the creditor.
In a divorce is a spouse not listed on the mortgage but listed on the deed required to help make the mortgage payments in Tennessee?
If they are not listed on the mortgage, then they have no legal obligation to pay the debt. If payments are not made it is only your credit that will be damaged.
If you default on your mortgage in Ohio can the bank confiscate other property you own in Alaska to pay the debt?
Not unless you gave the interest in the Alaska property as collateral for the loan. If you signed the Security Deed..debt deed with only the Ohio property (unless it contains a "blanket mortgage" clause or cross-collaterazation clause giving the address & legal description to the Alaska property) you are fine. Also the Security Deed or Debt Deed would have to be recorded in Alaska (in the city or county) where the property is to be an enforceable lien.
