Foreclosure if name not on title to property?

[cupcake]

I was divorced in December, 2008 and subsequently filed CH7. I received my discharge approximately one year ago, which included the mortgage. My exH also filed CH7 and was also discharged from the mortgage even though he decided to stay in the house. The divorce judgment states that he keeps the house and that he is responsible for the debt.

My name was NEVER on the property title. He purchased the home before we were married and had a mortgage in his own name. We refinanced a few years after we got married and my name was added to the mortgage when the refi occurred. As far as I know, both of our names are still on the mortgage account (even though we were discharged).

If he decided to walk away from the home at this point would the mortgage company foreclose against me as well because my name was on the mortgage even though I have never been a titled owner of the property?

[StartingOver08]

Yes, the foreclosure action goes against everyone that signed the note and mortgage.

[cupcake]

Yes, the foreclosure action goes against everyone that signed the note and mortgage.

Why would the mortgage company come after me if I have no interest in the property? And, what could they possibly achieve by doing that considering that the debt has been discharged?

[StartingOver08]

Read the note and mortgage, it describes their duties in the case of default. In order to take the collateral back, they must complete the foreclosure action (or deed in lieu of foreclosure). The mortgage is a lien against the property and in order to claim the property, they have to complete the process. By actually completing the process, the lender wipes out all the junior liens behind them as well as getting title/deed to the property.

Are you concerned because it will be another public record?

[cupcake]

Read the note and mortgage, it describes their duties in the case of default. In order to take the collateral back, they must complete the foreclosure action (or deed in lieu of foreclosure). The mortgage is a lien against the property and in order to claim the property, they have to complete the process. By actually completing the process, the lender wipes out all the junior liens behind them as well as getting title/deed to the property.

Are you concerned because it will be another public record?

I see. Yes, that is why I am concerned. I wouldn't want another public record and the affect it would have on my credit score.

[BCA2009]

I see. Yes, that is why I am concerned. I wouldn't want another public record and the affect it would have on my credit score.

If you were discharged of the debt in 2008, a foreclosure now shouldn't effect your credit score. They cant report on something you don't owe. The foreclosure would be recorded in the county records and maybe advertised in the newspaper. Normal credit inquires would never see it.

If you tried to get a mortgage on a new home they may find it, but it shouldn't make any difference.

[StartingOver08]

Naturally when you fill out the new mortgage application it will ask if you have had a BK or a F/C within the last 7 yrs. At that time, you can notate that you surrendered your interest in the home in the BK (if that is what you did). You will have to disclose the F/C, but you can explain that was after the surrender. (If that applies to your situation).

[keepswimming]

In our case, BOA has produced a fake set of notes, showing me as a signer, even though I NEVER signed.

[Sweetpea3829]

The public record stemming from the foreclosure would affect you...it won't affect your credit, but many lenders won't lend to you if you've had a foreclosure within the previous three years, even if the loan was discharged.

Other than that...the foreclosure would mean nothing to you...there can't be a defiicieny judgement or anything as the note was discharged.