MORTGAGE IN HUSBANDS NAME ONLY, TITLE & DEED IN WIFES NAME ONLY, NOW WHAT?
Question Details: THE HUSBAND BOUGHT A HOUSE AND THE FIRST AND SECOND MORTGAGE'S ARE IN HUSBANDS HIS NAME ONLY. BY ACCIDENT, THE TITLE COMPANY PUT THE DEED IN WIFE'S NAME ONLY. HE IS NOW FOUR MONTHS BEHIND ON THE MORTGAGE. THE COUPLE IS NOW SEPARATED, LEGALLY WHAT CAN HAPPEN TO THE WIFE? THEY CAN FORCLOSE THE HUSBAND BUT HOW ABOUT THE WIFE? DOES THE WIFE HAVE TO PAY BACK THE LOAN? CAN THE WIFE NEGOTIATE A BETTER LOAN WITH THE BANK? IF THE WIFE DECIDES TO SELL THE PROPERTY AND THE HUSBAND FORCLOSES CAN THE MORTGAGE COMPANY COME AFTER THE WIFE, EVEN THOUGH SHE NEVER SIGNED THE MORTGAGE? PLEASE HELP!!
Real Estate Law Answers
Dear Puzzled: In order to protect your rights and best interests, seek, retain and follow the advice of an experienced Attorney ASAP!
Good luck! Sincerely, J. Norman Stark, Cleveland, Ohio
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