Re: Mortgage v. Deed

Posted by Julio Martinez-Clark on January 29, 2008 at 16:56:07:

In Reply to: Mortgage v. Deed posted by Desperate for solution! on January 29, 2008 at 16:37:50:

In strict response to your question "Can the EX who holds Mortgage do
this even though my cousin is also on the deed with him?" the answer
is "yes," he can do it. It's his loan and mortgage and his property as
well.

The lender doesn't really care who stopped sending the payments. All
they care is that payments are not being received. The lender will
continue the process and foreclose in the property. The lender will not
give her any information perhaps because the loan is not on her name
and she is not in the promissory note; only in the mortgage document
(as a spouse she needs to knowledge that she is mortgaging her
property as a collateral of a loan that her husband applied for and was
approved for.

I hope this helps,

Julio Martinez-Clark

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