[XLX55]

HELP!! I met this guy and he moved into my house that I owned (Paying the mortgage by myself). After a while he and I consolidated our bills through a mortgage broker using the house as collateral. At this time his name was not on the deed. Then after a year we refinance to get a lower interest rate and when we went to sign the papers my name WAS NOT on them, just his. I had to sign a quick claim to have his name put on the deed. The mortgage is in his name and the deed is in both of our names. I would like to know how to get my name off the mortgage? The house is foreclosure but a date hasn't been set for the sale. Also, can I have my name removed from the deed? I live in Maine. Thank you

[Cvillecpm]

OP wrote... "The mortgage is in his name and the deed is in both of our names"... then your name is NOT on the mortgage so the foreclosure should not effect your credit... your original mortgage was paid off through the re-fi you did so your credit should be OK EXCEPT the foreclosure may show up since you are on the deed.

[Dr D]

Dear XLX55 - In my years of doing mortgages, I have not seen a situation where two people are on the deed to a property, and only one of them is on the mortgage. Common sense would indicate that one owner should not be able to mortgage a property without consent of the other owner, meaning that they are both on the mortgage.

[ScottGem]

This is confusing. You say your name is noton the mortgage then ask how to remove it. You also say both names are on the deed, but only one on the mortgage. You really need to clarify the facts here.

Also, why would you give this person an interest in your property? What did you get out of it?

[XLX55]

Please let me clarify my situation from the beginning... I was managing my mortgage payments faithfully every month when I got involved with someone. Several months went by and we decided to consolidate our debt using the house as collateral. Both of our names were put on the deed and mortgage. After a year we refinanced to get a lower interest rate and when we went to sign the papers, the mortgage was just in my partners name and not mine. Instead of refusing to sign because of my name not being on the documents, I went along with it, which was very STUPID on my part. When all was said and done, my name was only on the deed and not the mortgage. The house has gone into foreclosure with no date set for the action and is also on the market with a realitor. I'd like to know if there is any way I can relinquish my rights on the deed and also not be held accountable for the foreclosure? Could filing bankruptcy clear my name from all responsibility? Thank you..

[ScottGem]

This makes it a little clearer, but it still opens up some questions. Why are you willing to walk away from your property? You have an investment in this property.

You also need to clarify the mortgage issue. If your name is NOT on the mortgage, then the bank may not be able to foreclose. They can only foreclose on your partner's interest. If you name is not on the mortgage, then you should have no obligation to pay the loan other than to preserve your investment.

[mr.yet]

Most states will before they foreclose they will joint both parties to the mortgages.

By doing so both parties are equally repondisible for the debt, even thought only one person sign the mortgage or promissory note.

Check with an attorney in Maine to see if they have that law or rule.