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Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31782
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I am not a borrower.. signed deed and mortgage but not note

Customer Question

hello.. i am not a borrower.. signed deed and mortgage but not note in 2007. Divorced in 2008. Awarded home in divorce..was supposed to refi in my name to remove ex or sell..was unable to due to mortgage being underwater. I quitclaimed my interest to ex husband in dec 2017.. now he needs my signature for deed in lieu
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: connecticut
JA: Has anything been filed or reported?
Customer: not sure what you mean
JA: Anything else you want the lawyer to know before I connect you?
Customer: he is threatening to file a motion to compel me to sign in family court. My question is if I am not the borrower how will this affect me if I sign the deed in lieu or allow it to go to foreclosure and I am named as a defendant even though I am not the borrower and have quitclaimed my interest in property to ex.
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Roger replied 3 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

Signing this document should not affect you at all IF you are not the borrower and/or liable for the debt. However, the mortgage company is likely requiring your ex-spouse to get this from you in order to guarantee that any equitable interest you may have in the marital residence is being transferred to it via the deed in lieu.

So, it shouldn't be any liability for you by doing this. That said, because you've issued a quitclaim deed to him, it is a little strange for the request.....but not unheard of.

Customer: replied 3 months ago.
i did quit claim in dec and im definately not a borrower... if i refuse to sign and it goes to foreclosure can i remove myself as a defendant? will either show as public record anywhere?
Expert:  Roger replied 3 months ago.

If suit was filed, you would likely be able to get dismissed from the suit....but you'd likely have to sign a quitclaim deed over to the lender....which would be basically what you'd be doing here.

Expert:  Roger replied 3 months ago.

Your credit report and pubic records would note the foreclosure and you being named as a it's probably best to avoid that if possible.

Customer: replied 3 months ago.
credit report would show foreclosure even if im not responsible for the debt? is it the same for deed in lieu would show on credit report?
Expert:  Roger replied 3 months ago.

Your credit report would show that you've been named as a defendant in the public record info section.....but if the loan doesn't show up on your report....the foreclosure wouldn't appear there either.

Expert:  Roger replied 3 months ago.

Deed in lieu shouldn't appear on your credit report.

Customer: replied 3 months ago.
the loan has never appeared on my credit report. so if i am named in the suit it will not appear as a public record on my credit report? how hard will it be for me to get dismissed from the foreclosure suit?
Expert:  Roger replied 3 months ago.
the lawsuit will show up on your credit in he public records report.
Expert:  Roger replied 3 months ago.
Customer: replied 3 months ago.
sorry.. im first i thought you said lawsuit would not show on credit report if loan never showed? now you say it will?
Expert:  Roger replied 3 months ago.
I, that's not what I said....but I'm sorry if it was confusing.Your credit report has a debt section and a public records section. The foreclosure will not show up on your credit report in the debt section because the debt isn't yours.BUT, the lawsuit will appear in the public records section.
Customer: replied 3 months ago.
sorry it is it your opinion i would be better off signing the deed in lieu?
Expert:  Roger replied 3 months ago.
that's the easiest option.
Customer: replied 3 months ago.
will I have to declare deed in lieu on a loan application? Will foreclosure still appear in public record if Im removed from suit? Just trying to decide what is best
Customer: replied 3 months ago.
im not sure if this is considered too many questions.. but it is the same trying to see if there is a way to not affect my financial future.. if im removed from suit will it be removed or not appear at all on my report..?
Customer: replied 3 months ago.
I have a daughter who is a 3L and need to consolidate hers and my loans after graduation. I am trying to find a way that this loan that was never in my name will not affect us negatively.
Customer: replied 3 months ago.
Is it possible to be removed from foreclosure suit and it not appear in my credit report in public record section and not have to declare foreclosure on future loan applications? will I have to declare deed in lieu on future loan applications ?