Posted by dealmaker on May 23, 2007 at 07:35:44:
The short answer to your question is YES. The bank made the loan to BOTH of them, and is not bound by what a divorce decree says.
The ONLY really clean way to do this is for him to BUY the house from the two of them. She needs her name OFF ALL DOCUMENTS. In fact if HER ATTORNEY has not already insisted on this IMO the attorney is remiss in their duties.
dealmaker
Divorced Name on Deed of Trust and Note - Posted by Jimbo
Posted by Jimbo on May 22, 2007 at 21:12:05:
A friend of mine is getting divorced, and is worried her husband wont make the payment.
He qualified for the loan under his name and social, but the lender and title company required her to sign the deed of trust and the mortgage note.
Her name is on a lot of documents, but her social security number is not on anything.
If he defaulted on the mortgage, and the house were to foreclose, would she be held liable by the lender or be bound by terms and conditions on the note?
Re: Divorced Name on Deed of Trust and Note - Posted by colvegas
Posted by colvegas on May 24, 2007 at 13:52:26:
Mr Dealmaker is right on it is pretty obvious even if your friend specifcially did not assist in the qualificaion of the loan her name is on those documents and the lender will go after her if he can not get payments from the husband.