I recently remarried and need to foreclose on my old home. Can the mortgage company take anything of my new husbands? His name is not on the loan.

Asked by wlatchley, Mount Vernon, NY Sat Jun 8, 2013

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Derrick Mitc…, Agent, Mount Vernon, NY
Tue Jun 11, 2013
Let me talk to my in house mortgage expert and get back to you on this....THANKS
0 votes
Joan Tyson, Agent, Bronx, NY
Mon Jun 10, 2013
This is a question for your attorney to give you accurate professional advise..Good luck
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Rich Golio,…, Agent, White Plains, NY
Sat Jun 8, 2013
The Bank can only turn to the Individual(s) on the Note. They cannot pursue any other party. However, if you own a home with your new Husband they can try to attach a Jdmt (if they pursue one and get one) against other property in your name.
Feel free to call me Monday to discuss further and to go into more detail. 914-304-4320
As you will see from my profile, this is my area of expertise.


"$1,500.00 CASH BACK at Closing when you Buy or Sell with R I G Realty"
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sat Jun 8, 2013
For an accurate answer consult with an attorney who specializes in real estate. In addition, rather than foreclosing, ask if a short sale is an option...
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Margaret Ama…, Agent, Sarasota, FL
Sat Jun 8, 2013
Your new husband's signature is not on the loan I would guess. Therefore legally how would they collect from him?
Unless you purchased something together and both of you, you and your new husband now own it together I would think not. However do consult an attorney, States have their own laws.

Why would you let it your old home go to foreclosure?. Why not do a short sale where you are still in control?

All the best to you!
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Ron Thomas, Agent, Fresno, CA
Sat Jun 8, 2013
We keep looking for information about Deficiency Judgements:
So far, it seems the Banks have been holding back; probably reasoning that the majority of Ex-Homeowners don't have enough money to make it worthwhile.
We had a wave of Foreclosures that were caused by Medical Bills, Job loss, and the like.
Then the Market started to collapse; and we have seen a lot of people lose their house simply because they were Under Water, and they didn't want to lose any more money: They weren't destitute, or even hurting; they just didn't like being under water.
We are probably talking about 10 million foreclosures in this category. (just a W.A.G., but it may be more; who knows).
But that number is too large for the Banks to ignore. Would you?
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Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Sat Jun 8, 2013
I would say this is definitely a question to ask an attorney, maybe your divorce attorney if you have one. But if I'm not mistaken, te answer is technically yes. I personally never heard of it happening to anyone, but I'm sure they can. Why not short sale the house and not worry about this coming back to haunt you or file bankruptcy and include the mortgage so that you don't have to worry about it down the line.

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Robert Grana…, Agent, Bronxville, NY
Sat Jun 8, 2013
You should talk to your attorney to be sure, but on the surface, I would guess not. Are you on listed on any of his property? (House/apartment/bank accounts) THAT could make a big difference.

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