If my ex is letting the house go into foreclosure and I’m on the mortage but haven’t had anything to do with it for about 5 years, is there any protection for me?
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If my ex is letting the house go into foreclosure and I’m on the mortage but haven’t had anything to do with it for about 5 years, is there any protection for me?
She got it in the divorce. I quick claimed the deed and want nothing of it.
Asked on November 8, 2012 under Family Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
So long as you are obligated on the loan secured by a mortgagte on the home that is going into foreclosure, you have possible exposure for a deficiency judgment regardless of the fact that you are not on title. I suggest that you consult with a real estate attorney further on the subject to give you guidance as to protecting your assets in the event of a deficiency judgment.
I suggest that you suggest to the owner of the property to sell the property via a short sale.
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