What does it mean for me if my name is on my ex boyfriend's house but not the mortgage?

Asked by Stafford, 19152 Sat Jun 23, 2012

Before my ex filed for bankruptcy (when we were together), the lawyer thought it was a good idea to change the title to have my name on the house instead of his. Now, 8 months later, the house is not showing up as foreclosed! I don't know if my ex made a deal with the bank or what. What does this mean for me if the house is technically in my name? Does that mean I own the house and if so, what are my options? The house is currently very much underwater and I don't like the house at all.

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6
Philip J. Cu…, Agent, Feasterville, PA
Sun Jun 24, 2012
You need to talk with a real estate attorney because the information you need to provide should be kept confidential and by no means is a Real Estate agent able to give you the advise you need. Please feel free to call me at 215-725-5700 X49

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215-752-5700
Web Reference:  http://GreatPaRE.com
1 vote
, ,
Mon Jun 25, 2012
Sounds like the attorney is very good at causing problems he hopes will generate more income for him, make sure you get a different attorney, good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes
Michael Solo…, Agent, Huntingdon Valley, PA
Mon Jun 25, 2012
Feel free to call me for direction

Michael Solomon
Realty Mark
215 376 4444 office
215 421 2121 cell
0 votes
Sheri Curci, Agent, Newtown, PA
Sat Jun 23, 2012
You could be titled as Joint tenants in Common or some other kind of partnership titled owner but if you’re not on the mortgage than you may have some say in the sale of the home but I strongly advise you to seek a Real Estate Attorney. It may cost you to consult but it sounds like you may benefit from seeking a professional legal answer.
All the best, John Curci RE/MAX Properties
0 votes
Patrick Fiel…, Agent, Plano, TX
Sat Jun 23, 2012
Good evening,

You will want a professional in your State to advise you on real estate title/deed law, but I can tell you this, your ex may have added you to the title (making you part owner in the property) but it would not change his mortgage liability or make the mortgage your liability.

The lender holds a lien against the title - if the terms of the promissory note (mortgage) are not satisfied by the borrower (your ex) the lender may, and will, foreclose on the property. The fact that you are on the title will not be relevent. The fact that the house is worth less than it can be sold for is not relevent, and of course, the fact that your don't like the house will not matter.

From a credit perspective, if you are not a borrower on the mortgage and you are not married, the foreclosure will have no affect on you. Have you considered revisiting the issue with the lawyer that advised you when you agreed to be added to the title?
0 votes
Vicky Chrisn…, Agent, Purcellvile, VA
Sat Jun 23, 2012
Your name is on the title it is your home. However, if it's underwater then the mortgage is due. If no one is paying it, it is or will soon be bank owned, and their name will be on the title.
0 votes
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