My names on the deed of trust but not the mortgage of a home going into foreclosure. What’s going to happen to me?

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My names on the deed of trust but not the mortgage of a home going into foreclosure. What’s going to happen to me?

My ex wife and I are on the deed of trust but she is the only one on the mortgage. She fell a year behind in payments and never told me about it till I got a letter saying it was being foreclosed on. How will this effect my credit? When they do foreclose on the house will I just have to sign my name over to the bank handling the foreclosure?

Asked on June 22, 2009 under Real Estate Law, North Carolina

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

What happened? Why did or your ex allow this situation to occur? You are on a title to a home that may wind up with a lien on it if there is a judgment.  It depends on your state what will happen from here.  Have you attempted to contact the company to rescind the foreclosure, allow your wife to quit claim property to you and work with the lender and her to finance in only your name?

Try the North Carolina Commissioner of Banks and see if you can file a complaint: http://www.nccob.org/nccob

Further, try consulting a real estate attorney at www.attorneypages.com and check his or her record at the North Carolina State Bar.


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