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Mortgages, Refinancing, Foreclosure All matters concerning mortgage foreclosure law and refinancing.

forclosure on one house but not both

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Old Jun 2nd, 2008, 06:05 PM     #1
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Confused forclosure on one house but not both

If I have a mortgage in my name but both my husband and my name are on the deed, is he as responsible for the debt as I am?
If my husband invests into another property, in his name but both of us are on the deed, is his investment at jeopardy if I default on the loan that is in my name and foreclose ?
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Old Jun 3rd, 2008, 01:09 PM     #2
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Default Re: forclosure on one house but not both

Normally the one that signed the loan documents is responsible unless you are in a community property state and signed after you were married.

As a practical matter, most lenders these days always try to have both spouses sign for any loan on a home.
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Old Jun 3rd, 2008, 01:10 PM     #3
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Default Re: forclosure on one house but not both

By the way some loan documents permit cross default--ie default on one and you default on theirs. So check your docs closely.
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