Real Estate Law
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Since she is required to only sign the mortgage and not the note, there should be no problem in securing the loan even if the bank discovers that there is a judgment against her. What the bank is saying is that they don't much care about her credit history and outstanding judgments; however they want to make sure she cannot make any claims against their right to foreclose in the home in case you default on the note. So, her signing off on the mortgage is simply her promise [along with yours] that if you should default, the bank can foreclose on the home which is the collateral for the loan without being impeded by her name on the title.
1. What is your wife's judgment for? Was it for credit card debt?
2. I am not understanding how a judgment against your wife would show up on the title report of a new or used home that you are now buying which neither of you had anything to do with before?
I applied for mortgage under my name to get best rate.
1. When did this happen?
2. Are you trying to take out a home equity loan or refinance the home?
3. Was the home previously paid off?
My wife and I are on current deed. She is required (bank ) to sign off on mortgage, not note.
4. Was she on the original note?
5. I need more background information on what it is that you are trying to do.
She has a current judgement against her.
6. Why have the judgment creditors not already tried to foreclose on the property?