Change Name on Mortgage When Qualifying for Reverse Mortgage

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  • BA
    Jul, 2010
    It is impossible to answer your question without knowing the state where the property is located and the state of residence of you and your spouse. If the property and your spouse are in a community property state, then you have liability for the mortgage. If you do not reside in a community property state, then you do not have liability for the mortgage. Your spouse, however, has liability for the mortgage regardless of his state of residence. If you have liability and the mortgage company files lawsuit against you, you do not respond, and they obtain a judgment, then the mortgage company can levy your bank account, place a lien on your property, or garnish your wages. 2) Regarding your seizing the ex-spouse's property, you have a cause of action against the ex for breach of contract. Again, if you sue and are successful, then you will have the ability to levy her bank account, place a lien on her property, and garnish her wages. See the resource collections advice for more information. Also see Ex-Spouse & Foreclosure for a longer discussion of these issues.
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  • 35x35
    Jul, 2010
    My Husband divorced his ex wife two years ago. Both of their names are on the mortgage, and divorce decree only states that she is responsible to make payments on house. Because his name is still on mortgage he refused to sign quit claim deed. She tried to refinance but was denied. She owes more money on the house than it could be sold for. She is now refusing to make mortgage payments and the bank is calling not only my husband but my cell phone as well. Here are my questions: 1. Since the mortgage has my hubby's name on it, CAN they go after ME for his debt? Can they take money from MY bank account or put a lien on MY home which I own outright for his and his ex wife's debt? 2. IF they do take money from us, can WE take the house from her, even though divorce says she gets the house? HELP
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