If your name is on the deed and title...but NOT on the mortgage note...are you still financially responsible for the mortgage?

If your name is on the deed and title...but NOT on the mortgage note...are you still financially responsible for the mortgage?
by

1 Answer

Answer :

Yes, that’s the short answer. The the long answer is that is what life insurance is for to pay the mortgage and other bills. You will need a lawyer to go through probate.
by

Related questions

Does it make a difference that I financially support Amnesty International?

Description : Does it make a difference that I financially support Amnesty International?

Last Answer : They have what I would call a moderate rating (taking into account what percentage of every dollar goes to programs rather than salaries and campaigns, for example).

How do people with agoraphobia support themselves financially?

Description : How do people with agoraphobia support themselves financially?

Last Answer : answer:They have a hard time. Much depends on the severity of their problem. Like many fearful people they have to come up with coping mechanisms, like going out when no one else is out, shopping in the small ... public in his own town. When he died his 5 year old car had only 6,000 miles on it.

Are you financially successful? If so, how did you achieve it?

Description : Are you financially successful? If so, how did you achieve it?

Last Answer : One word: Ph.D.

How would you handle a financially dyslexic significant other after nicely approaching them numerous times already?

Description : How would you handle a financially dyslexic significant other after nicely approaching them numerous times already?

Last Answer : Make her pay for her own stuff. Don’t let her touch your money. If she wants expensive things she better be able to afford them herself. It’s not like you haven’t tried to compromise.

How can you be financially strapped making 100k yr?

Description : How can you be financially strapped making 100k yr?

Last Answer : We can’t answer this for you. It’s time for the old spreadsheet. Track your spending. Your answer will be staring you in the face.

Can a receivership deed be done on a home with a mortgage?

Description : Can a receivership deed be done on a home with a mortgage?

Last Answer : Feel Free to Answer

How do I get a copy of my mortgage Deed of Trust?

Description : How do I get a copy of my mortgage Deed of Trust?

Last Answer : If you want to get a copy of your mortgage Deed of Trust, you should ask your mortgage company. Chances are, the lender will be able to offer you a copy of your deed. You may also find one already in your mortgage paperwork, since the Deed of Trust tends to be given as a copy in the paperwork.

If your spouse dies...but you had a mortgage together...do mortgage companies have anything to help you out with payments?

Description : If your spouse dies...but you had a mortgage together...do mortgage companies have anything to help you out with payments?

Last Answer : Uhmmm, no.You may be able to negotiate to extend the term or change interest rate, but that is not automatic.

Can you help me with our bank mortgage?

Description : Can you help me with our bank mortgage?

Last Answer : answer:If you have an adjustable mortgage, YES. But you should not pay closing fee, title search . . . . again. A fixed mortgage, NO Where is the lawyer from your original closing, your lawyer not theirs ? ? ? Contact the state banking regulator

How can we buy a home without taking out a mortgage? See details...

Description : How can we buy a home without taking out a mortgage? See details...

Last Answer : Yes you can sell one property and buy a new one that is equal or is less than the proceeds from the first. There maybe federal tax implications. But you don’t need to get a mortgage on the new property.

What is a mortgage account number?

Description : What is a mortgage account number?

Last Answer : answer:I guess you can write to pretty near anyone and tell them pretty much anything you want. But if you expect to stay in the house, then you'd better pay off on the mortgage. Mortgages ... or should have received) a notification of the change as a normal part of the mortgage holder's business.

Can someone co sign with you on refinancing a mortgage?

Description : Can someone co sign with you on refinancing a mortgage?

Last Answer : Yes. Odds are good they will have to provide all the same documentation you are going to have to provide and they are of course going to be on the hook for the exact same amount as you. Their credit will be impacted, good or bad, by the way the mortgage is handled.

What happens if I walk away from my mortgage even if I have money in the same bank?

Description : What happens if I walk away from my mortgage even if I have money in the same bank?

Last Answer : answer:im not too sure how it works where you are, but here in spain they would just take the other assets off you. having said that, we also have laws against selling people loans via questionable methods. this is not legal advice

How much money will I save by making a weekly mortgage payment with an extra $30 per payment?

Description : How much money will I save by making a weekly mortgage payment with an extra $30 per payment?

Last Answer : This calculator lets you plug in the details of your loan and the impact of extra payments. Welcome to the collective, by the way.

Are you for or against the mortgage bailout?

Description : Are you for or against the mortgage bailout?

Last Answer : It's a murky situation without a simple answer, IMO. I absolutely do not think that irresponsible people who took on ridiculous amounts of debt that they had no hope of maintaining should be bailed ... that made those loans? The ones who absolutely knew better? They should be tarred and feathered.

What is a good place to get a co-op mortgage loan?

Description : What is a good place to get a co-op mortgage loan?

Last Answer : I got a mortgage for my co-op from CitiMortgage - citimortgage.com - which is a division of CitiBank. I don't know where you live, but they apparently do a large portion of the mortgages on apartments in manhattan (where I live), which are primarily co-ops.

Please explain to me what I am missing about the mortgage mess.

Description : Please explain to me what I am missing about the mortgage mess.

Last Answer : answer:I have to agree that the responsibility needs to be focused on the homeowners. For many years we have been hearing about the housing bubble. I don't see how anyone could think that ... were just salespeople who wanted to add to their bottom line, regardless of the homeowners fiscal situation.

Real estate question. Can a person be on the promissory note and not on the deed of trust?

Description : Real estate question. Can a person be on the promissory note and not on the deed of trust?

Last Answer : Yes, anytime one person co-signs for someone else, they are on the promise to pay. They don't have to have any ownership in the property (real estate as well as auto). This is usually done ... who signs off a quit-claim deed in the mistaken belief that gets them out of responsibility for the debt.

Who is financially responsible if a tow truck damages my car while towing it?

Description : Who is financially responsible if a tow truck damages my car while towing it?

Last Answer : Here are some factors that could affect your ability to collect for towing damages. Did the towing company ask you to sign a waiver releasing them from liability? Did you observe the damage ... towing service reimburse you. Finally, your own insurance could cover the damage under a collision policy.

What is the most valuable currency note on Earth? How many do you need to reach to the moon?

Description : What is the most valuable currency note on Earth? How many do you need to reach to the moon?

Last Answer : I found in a quick Wikipedia search that America has a $10,000 note that is still legal tender. Just not printed anymore. Can anyone beat that?

At what point do you believe a person breaks through the ”C-note Ceiling”?

Description : At what point do you believe a person breaks through the ”C-note Ceiling”?

Last Answer : There are too many variables involved to speculate on where that line is. The hopeless nature of your question is realized when you consider just how few people you can locate who feel they have enough money ... of the setup we operate in demands that the more you have, the more you seem to need.

Why do older US dollars say "this note is legal tender for all debts, puiblic and private, and is redeemable in lawful money at the US treasury or at any federal reserve bank?"?

Description : Why do older US dollars say "this note is legal tender for all debts, puiblic and private, and is redeemable in lawful money at the US treasury or at any federal reserve bank?"?

Last Answer : I believe at that time we were on the gold standard and the money could be exchanged for the appropriate amount of gold. I’m trying to find a bit more info right now here. When we went off the gold standard, this would no longer have been true.

How do people stay above water, financially? How hard was it for you, is it still hard?

Description : How do people stay above water, financially? How hard was it for you, is it still hard?

Last Answer : answer:I struggled for a while when I was 18 living in Hollywood and trying to make it on my own. I found out I had no idea how to really take care of myself or be responsible. I was working a ... stable, responsible, and have money saved, I still get worried sometimes if I'll be able to make it .

If you do community service because someone makes you, is it still a good deed?

Description : If you do community service because someone makes you, is it still a good deed?

Last Answer : Of course it is. there is a reason for every action that people do. As long as you do the right thing it does not matter what the reason is.

Can anyone suggest a socially responsible Roth IRA?

Description : Can anyone suggest a socially responsible Roth IRA?

Last Answer : https://personal.vanguard.com/us/funds/snapshot?FundId=0213&FundIntExt=INT

How do I start being a responsible grownup with my finances?

Description : How do I start being a responsible grownup with my finances?

Last Answer : Okay, baby steps. incidentally, I have BOA too and they're okay by me, when compared to my previous banks My initial advice to you would be to try to eliminate all credit cards in your life and work ... put about $500-$1000 initially and don't touch it, keep adding to it it has a good return yield.

How do I go about getting a title loan so I can make a mortgage payment?

Description : How do I go about getting a title loan so I can make a mortgage payment?

Last Answer : You will find auto title loan companies in your community. Take the title to your car with you and talk to them about a loan. Your car title will be your security for repaying the debt. Just be ware if you do not, they can repossess your vehicle.

Can someone show me, and explain, the math formula that was responsible for the subprime mortgage scandal?

Description : Can someone show me, and explain, the math formula that was responsible for the subprime mortgage scandal?

Last Answer : http://www.theguardian.com/science/2012/feb/12/black-scholes-equation-credit-crunch

loans were partially responsible for the home mortgage crisis during the 2000s. -General Knowledge

Description : loans were partially responsible for the home mortgage crisis during the 2000s. -General Knowledge

Last Answer : Subrime loans were partially responsible for the home mortgage crisis during the 2000s.

If my wife has a house in her name, only, and she dies am I responsible for the mortgage?

Description : If my wife has a house in her name, only, and she dies am I responsible for the mortgage?

Last Answer : Only if your wife leaves the house to you as an inheritance are you legally responsible for her mortgage upon death.

Believe what you want, but I believe the arms race during the Reagan administration was aimed to financially cripple Russia and it worked, my question are the conflicts in Iraq and the middle east, true aim to financially cripple the U.S?

Description : Believe what you want, but I believe the arms race during the Reagan administration was aimed to financially cripple Russia and it worked, my question are the conflicts in Iraq and the middle east, true aim to financially cripple the U.S?

Last Answer : answer:@SQUEEKY2 - with all respect, I disagree. If you're correct about the mideast conflicts trying to bankrupt the US, then: - who or what country is behind it? - this wouldn't be a ... US (2007-2013) was simple greed on the part of big banks and financial institutions. We screwed ourselves.

There are many incidents of Irony in the chapter. Choose the statement that DOES NOT support Irony in the end. (a) Those who go out of their way to help a poor farmer are suspected to be thieves. (b) Faith is shown to be bordering on arrogance. (c) To have faith is good, but to think that faith entitles a person to make any wish come true betrays a lack of humility and gratitude. (d) The postmaster showed satisfaction for doing a good deed.

Description : There are many incidents of Irony in the chapter. Choose the statement that DOES NOT support Irony in the end. (a) Those who go out of their way to help a poor farmer are suspected to be ... true betrays a lack of humility and gratitude. (d) The postmaster showed satisfaction for doing a good deed.

Last Answer : (d) The postmaster showed satisfaction for doing a good deed.

Why are the ATM machines still busy, if people can pay with credit card, and debit card just about any store nowadays?

Description : Why are the ATM machines still busy, if people can pay with credit card, and debit card just about any store nowadays?

Last Answer : It doesn’t cost me anything to use the ATM at my bank. And sometimes I just want to pay with cash. If I’m out with friends, I pay my share with cash. At strange gas stations away from home I prefer to pay with cash. Buying a quick donut or sandwich, cash.

When a debit card does not have a chip, am I still able to track it?

Description : When a debit card does not have a chip, am I still able to track it?

Last Answer : Yes. The company who issued the card will be able to track where yours was last used.

If everyone were super wealthy would there still be stealing and robbing?

Description : If everyone were super wealthy would there still be stealing and robbing?

Last Answer : Oh fuck yeah.

I have a sh**load of pie tins from Marie Callender's. Do they still honor tin refunds, and if so what's the amount per tin?

Description : I have a sh**load of pie tins from Marie Callender's. Do they still honor tin refunds, and if so what's the amount per tin?

Last Answer : You’ll have to find one open to find out. All the ones around here closed a few years back.

If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Description : If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Last Answer : You still owe the estate. The court will decide who gets the money but the debt is property of the estate.

Besides cosmetics, what still makes money in a depressed economy?

Description : Besides cosmetics, what still makes money in a depressed economy?

Last Answer : Gasoline companies.

If the person I owe money to dies, do I still owe the debt?

Description : If the person I owe money to dies, do I still owe the debt?

Last Answer : I think the money is still owed even after death. This person is probably the executor of the estate, to put a face on things.

Do you ever wish you still had the toys from your childhood?

Description : Do you ever wish you still had the toys from your childhood?

Last Answer : Still have my GI Joe’s. Battle buddies to the end.

Do you still use cash?

Description : Do you still use cash?

Last Answer : Yes, because the soda machine doesn’t take credit cards!

Why, oh why, is Timothy Geithner still Treasury Secretary?

Description : Why, oh why, is Timothy Geithner still Treasury Secretary?

Last Answer : Perhaps because you cannot point to anything he has done wrong since becoming Treasury Secretary.

For those who are just entering the world of adulthood (or those who already have), what are your opinions on saving money while still young?

Description : For those who are just entering the world of adulthood (or those who already have), what are your opinions on saving money while still young?

Last Answer : I’m 35 and have never saved any money. You have to have extra money to save. I am finally in a position where I can save money. But hey, I might die tomorrow. I’m not too worried about it.

Is Germany still paying off money and debts from the first and second world wars?

Description : Is Germany still paying off money and debts from the first and second world wars?

Last Answer : Actually, Germany had to take responsibility for and pay the debts for World War I.

Why the hell are we still making pennies?

Description : Why the hell are we still making pennies?

Last Answer : answer:I use them. And I still pick them up when I see them on the sidewalk. So there.

Are you financially ready to live one hundred and eleven years old?

Description : Are you financially ready to live one hundred and eleven years old?

Last Answer : Isn’t that guy’s name really Bilbo Baggins? I don’t have the finances to last ‘til I am 111. 70 is looking sketchy right now.

How would you feel about being threatened with being publically labelled a "defector", if you refuse to agree to beeing financially fleeced by the party you are trying to donate to?

Description : How would you feel about being threatened with being publically labelled a "defector", if you refuse to agree to beeing financially fleeced by the party you are trying to donate to?

Last Answer : Sadly, that shit probably works well on Trump’s most devoted followers.

Should you love someone who is not financially stable?

Description : Should you love someone who is not financially stable?

Last Answer : Is that person stuck in that job forever? Can you support yourself (and potentially a family)? Is the person in the lower paying job because it's a non-profit that benefits the community? ... using this as the sole point of judgement is probably unwise, especially if the person is relatively young.

Anyone struggling in life financially?

Description : Anyone struggling in life financially?

Last Answer : Welcome to the real world! I've been here for 45 years! My Dad made $1000 a month back in 1968 and there were 10 people in our family. I was impressed! I told myself that someday I would make $1000 ... ! -No matter how bad you think you have it, just look around: Someone else will have it worse!)