Can the bank put a lien on my property

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Can the bank put a lien on my property

I own a lot of property with my sister . (taxes are current) I am currently going thought forecloser on my house shared with husband my name is on the deed but not on morgage

Asked on May 13, 2009 under Real Estate Law, Florida

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

This sounds like a very touchy situation.  One of the first things a lawyer would want to know, beyond what's in your question, is how it happened that your name is on the deed but not on the mortgage.  That's unusual.

Ordinarily, during a foreclosure, before the property is sold, it is only the property covered by the mortgage being foreclosed that is under the lien.  After the property is sold, if the sale doesn't bring enough money to pay off the loan and expenses, then the lender can try to get what is usually called a "deficiency judgment" for the difference.  If they get that, then, like any other money judgment, it becomes a lien on anything you own.  However, if you were not a party to the original mortgage loan, I would doubt that the deficiency judgment could apply to you.

It sounds like you have a lot at stake here.  It is very much worth your while, I believe, to get a firm opinion that you can rely on, from a Florida real estate attorney, after you give her or him a complete set of facts (including, quite possibly, copies of the mortgage papers and the deed) to work with.  It is very important that this lawyer be someone completely separate from any lawyer or law firm who is now representing, or ever has represented, your husband or the two of you as a couple, because there is a chance -- very small, I think, but a chance -- that your interests here may conflict with those of your husband.

One place you can look for qualified counsel is our website, http://attorneypages.com


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