Deedgreenspun.com : LUSENET : Repossession : One Thread
NO, I want to leave the house what I am asking is If my name is on the security deed, do I have to pay the mortgage. If the mortgage is not in my name am I still liable for the note if it is repossessed?
-- Danielle (firstname.lastname@example.org), May 11, 2004
No you are quite lucky in that you own some of the house but are not liable to pay for it if your name is not on the mortgage.
If the property is sold and there is equity in the house then you are entitled to some of the settlement I think.
If you are completely unsure as to your position it may be wise to check with the CAB.
-- Chris (email@example.com), May 12, 2004.