Am I liable in a foreclosure action when I did not sign the promissory note?
Full Question:
My Ex wife is being foreclosed on her home. I was still on the deed so when she refinanced it I had to sign off on it but did not sign the promissory note. I have since been deeded off the property. Can they still find a judgement against me? (Florida)I have been listed in the complaint.
03/04/2010 |
Category: Real Property ยป Foreclosure |
State: Florida |
#21258
Answer:
If you did not sign the promissory note or take out the loan on the property, you are not liable for repayment of the loan.
However, if your name was on the title to the property (deed) at the time of the loan, when the bank placed a mortgage on the property to secure the promissory note, they obtained a right to foreclose on the property. It would not matter if there were other owners of the property other than the borrower.
If your name was not on the title to the property at the time the foreclosure action was started, you may have a defense to the claim.
It would be beneficial for you to carefully review all the documents involved and seek the input of a local real estate and/or foreclosure attorney.
