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rideacowboy
Dec 14, 2010, 09:52 AM
We are now separated and the husband pays mortgage and is in his name, but the deed is in wife's name which took place less then a year.The mortgage is a homeline and the bank will not discuss or give wife statements.They separated in Aug 2010 and the deed was changed in Jan 2010.The husband also had a LTD. Company and dissolved it after the separation. The wife had nothing to do with company but bank is taking money owed by company from mortgage.Can they do this without involving wife.

ebaines
Dec 14, 2010, 10:43 AM
Please verify:

1. The couple is still legally married - is divorce in the works?
2. The wife's name is on the property deed, and not the husband's.
3. The mortgage is in the husband's name only, and not the wife's.
4. The wife is living in the home, and the husband is not.

Do I have that right? Please clarify what you mean by "bank is taking money owed by company from mortgage." What does the husband's company have to do with the mortgage on a home?

But to answer the question - given that the wife is not listed on the mortgage, the loan between the bank and the husband is their business alone. The problem with this arrangement is that if the husband can't (or won't) pay the mortgage then the bank may repossess the home. I hope the wife is working with a lawyer to get this straightened out; otherwise her ability to keep the home is at the mercy of the husband's capability (and willingness) to keep on paying.