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Wife is on the deed...but not THE NOTE...can the mortgage company foreclosure?


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I refi-ed a bad sub-prime loan Dec.2005.

The loan is just in my name, I'm the one who applied for the loan because she wasn't working at the time we refi-ed and she didn't have any income.

However, on the Lenders Instruction Sheet, it's listed as

Borrower: John K. Doe

Vesting: John K. Doe and Jane L. Doe

She is listed as a borrower and signed the HUD A1 Settle Statement

She is not on The Note, nor did she sign it.

Thanks for your input!

The loan statements are only in my name.

So since she is listed on some loan documents as a borrower...but not listed on "The Note" would the company be able to legally foreclose on us should we fall behind on our mortgage...since she's listed as a borrower in some places, but not all, and especially since she didn't sign any loan applications or Notes?

Thanks for your input!

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That does not make a difference. The underlying property to the note is secured by the mortgage. The fact that you Ok'd the mortgage secures the property. You could have Aunt Gerdie and 56 other cousins on the deed and the mortgage still has secured interest.

Now if any other person on the deed is harmed by you drawing a mortgage against the property and they did not approve of the mortgage being drawn, they have a cause of action against you.

Are you trying to prevent foreclosure?

I would check into these government modification programs first. What you mention is probably not an effective strategy to prevent foreclosure.

If it gets to foreclosure, many consumers are having an effective time staving it off by using the "PRODUCE THE NOTE" strategy. But it depends on the judge.

If you can't get a refi, I'd see a BK lawyer or a consumer lawyer. They may be able to force it to be modified, or provide some sort of BK relief.

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