Re: my name on deed but not mortgage-foreclosure on property

The circumstances you described are not clear. If you remained in title and signed the mortgage than the default will effect your credit in the future. If you were not in title to the property aaand did not sign the mortgage you have no legal responsiblity. If the mortgage exceeds the value of the property than other issues of concern must be addressed. I suggest you consult with any attorney to review the facts to give you an opinion. I would be happy to review your fact for a small minimum fee of $50 and provide you with an opinion. If you have any questions, please give me a call. Gerald Hershenson 215-579-9390

Re: my name on deed but not mortgage-foreclosure on property

I agree with the other attorney, that the situation is unclear. It is extremely unlikely that he would have been able to refinance into his name without your signing a deed. The reason for that is the mortgage company will not provide a mortgage unless all the owners sign it.

Therefore, it seems to be one of two possibilities occurred. One is that you did sign a deed and he refinanced relieving you of all the benefits and burdens of the property and the prior mortgage. The other is that he never did refinance and you remained liable. In the latter event, the foreclosure will be noted on your credit along with the failure to make the payments.

I trust this has been helpful, but feel free to call or E-mail on a free initial basis.