Can I get information on a second mortgage loan that is not in my name, but I hold the deed on the property?
Answer:
HoneySuite gives good advice. What I don't understand is how the 2nd mortgage got put in just your husband's name. Banks (and possibly federal laws) require federally insured mortgages to be in the name of both spouses. I would question the legality of the loan officer who approved this loan without your signature. You may want to look into getting an attorney, you may not even have to pay it back if it was done illegally.
Take the divorce decree, settlement agreement detailing the mortgage arrangement, and new deed to the bank. They may not let your husband off the hook for the mortgage, but they will make the proper arrangements for you to be able to pay it since he won't be. You need to do this right away before the mortgage falls into default.
Alternatively, if he will, have your husband send you the payment booklet and just pay it. It doesn't really matter that the loan is in his name. It is secured by the property and that is your concern.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found after
doing a google search :
http://umgarticles.atspace.com/debt-cons.
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