If I got a sumons for forclosure on a house my name is on the mortgage but not the note, what does that mean for me?
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If I got a sumons for forclosure on a house my name is on the mortgage but not the note, what does that mean for me?
The ex says it won’t affect me; I have a problem believing that.
Asked on October 22, 2012 under Real Estate Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your name is on the mortgage of the home that is subject to foreclosure but not on the promissory note secured by the mortgage if the home is foreclosed upon then most likely your credit rating will suffer because the foreclosed mortgage will be reported to a credit rating company or companies with your name on it.
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