Join  |  Login  |   Cart    

Notary Rotary
Just PoliticsLeisure
Welcome to the Notary Talk General Discussion Forum. Before posting, please read the


Re: MORTGAGE QUESTION
Posted by Luckydog of FL on 8/11/19 2:28pm Msg #609278
She is not responsible to make any payments, however, if he defaults, she loses the house because she is on the title.
The note makes your responsible for payments, the mortgage puts you on the title and allows a default of the note as colaterol to pay.

If he decides he's going to stop making payments, does she want to keep the house? She can possibly try to qualify for a loan on her own AFTER the divorce. Not sure of the marital rights in your states, but she may have to get the divorce to get it all by herself, or he would still be on title.

Better scenario since it's a seller's market is to sell it and get the money and get the dicorce. Then she can buy something she likes and maybe more affordble. jmo
PrevNextReturn to General Discussion    Post a Public Reply to this MessageSend Author a Private Message


Messages in this Thread
 MORTGAGE QUESTION -  walthtz on 8/10/19 10:51pm
 Re: MORTGAGE QUESTION -  Doris_CO on 8/11/19 12:06am
 Re: MORTGAGE QUESTION - Lee/AR on 8/11/19 4:38am
 She needs a good attorney. I'm assuming they're still -  MW/VA on 8/11/19 9:36am
 Re: MORTGAGE QUESTION - Luckydog on 8/11/19 2:28pm
 Re: MORTGAGE QUESTION -  walthtz on 8/11/19 3:25pm
 Sending prayers & positive thoughts to your daughter -  MW/VA on 8/11/19 5:20pm
 Re: MORTGAGE QUESTION - Luckydog on 8/11/19 6:18pm



 
Find a Notary   Notary Supplies   Terms   Privacy Statement   Help/FAQ   About   Contact Us   Archive  
 
Notary Rotary™ is a trademark of Notary Rotary. Copyright © 2002-2019, Notary Rotary, Inc.  All rights reserved.
500 New York Ave, Des Moines, IA 50313.