I live in VA. In Dec 2005, my realtor husband signed my name on a VA commercial property mortgage w/o having power of attorney. All of the persons present at the settlement had a vested interest in completing the transaction: my husband, his business partner & wife (also the titling agent) who jointly owned the property, and the small community bank president who considered getting this substantial mortgage a coup for his bank. I learned about the mortgage in late 2007 because my husband fell behind on mortgage payments that ended up on my credit record.

My husband's business failed and we're struggling on my salary alone. We can't sell the property because we're upside down. We need to invest some money in retrofitting the property to make it viable for a commercial tenant. The bank is willing to refinance for a longer term at a lower interest rate, but, of course, I must sign the mortgage documents.

I want to know what my recourse is with the existing mortgage. Can I press the bank to remove my name from the existing mortgage? Will the bank then pursue my husband and, perhaps, seize our joint assets (e.g. our home) to satisy the loan? Will my husband be criminally charged for signing my name w/o power of attorney? It seems to me that the other parties (the titling agent & bank president, now deceased) are equally culpable.

It would appear under VA law that when either spouse of a legally married couple enters into any type of debt, that either party can be held liable for that debt.

If debt was incurred prior to the marriage, the spouse would not be liable for that debt.

Even if he didn't sign your name, you could still be held liable for the debt.

I am not an attorney, and you may be better off talking to one.

To follow this up, how long ago did you find out he did this, there would be a statue of limitation on the criminal part of the crime on this.

You could go against the bank and file a complaint with the banking commission and with the VA and with the Attorney General.

If there was fraud done ( and it was) it may actually void the loan since all parties to it were aware. Now this could cause legal problems for all the paties,

But in all cases your husband will end up being liable