This is not really a question for Real Estate professional; you should be seeking the advice of a legal representative. There are a number of issues that were raised in your question, but you need direction outside of the mortgage itself. There are legal ramifications that you may not be aware of or considering.
This is a situation where you need to protect your interests and finances. Speak with a reliable real estate attorney and you have your interests protected.
Coldwell Banker Preferred
You normally have two options in this case with the mortgage, one is to try to assume the loan if it is an FHA or a VA loan. If it is anything other than that, you will not be able to assume the loan. The tricky part now on the assumption is that you are on title already so would need to check an make sure you are still able to assume the loan. You would have to qualify like any other mortgage so option 2 might be better anyway as you would probably get a better rate, which is to do a refinance of the property getting a new mortgage. The legal terms are pretty simple. The current mortgage company has a lien against the property in the name of your husband. If the mortgage is not paid they can foreclose on the property to recover the money they lent.
Call me to discuss a refinance or an assumption 610-906-3109.
John R. Thomas
Certified Mortgage Planner - NMLS 38783
There are two ways that you can get on a mortgage:
1. By going back to the lender and trying to do an assumable loan (is it an FHA loan?)
2. By doing a refinance and starting with a new mortgage.
You can't just have your name put on a mortgage. You have to be proven to be financial able and responsible to take care of the payments. By putting your name on the deed your husband most likely violated the terms of the existing mortgage, so you may have a bit of a hornet's nest on your hands.
Good luck with everything,
Carol Cei, ePRO, Realtor
ReMax Platinum Club
Five Star Professional
ReMax Action Realty