What are the repercussions to foreclosure if my name is on the deed to the home, but not on the mortgage?
1 Answer from Attorneys
The home could be foreclosed on (sold) and you will lose your interest in the property. If you reside there, you will eventually be forced to leave your home. It may possibly also affect your credit rating even if your name was not on the Note and Mortgage.
You should consult with a real estate lawyer in your area to find out what your options are. Do NOT take a suggestion that you consider bankruptcy as an alternative.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
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