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2 mortgages on property. She is responsible for the second mortgage, even tho both of us signed the paperwork. after the short sale can the 2nd mortgage company hold both of us for the balance? or just her, as per the divorce pw?

by noway.lsr from , . Jul 20th 2011 Reply


MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions

HI: ANY DEFENCIES I WOULD SUGGEST GET IT IN WRITING FROM YOUR LENDER FOR SAFEGUARD. IN MY EXPERIENCE IF BOTH PARTIES ARE OBLIGATORS ON THE ORIGINAL SIGNING OF NOTE, THEN BOTH ARE HELD RESPONSIBLE. MIKE (703 505 5300) NMLS # 754875

Jul 20th 2011
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Todd Tholl (toddtholl@leader1.com)
#4 ranked lender in Iowa - 239 contributions

Sounds like a question for your divorce atty.

Jul 20th 2011
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Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions

Like Mr. convin said your best bet is to get it in writing-if you signed the note on the second mortgager then they do have the right to sue you for the balance regardless of your divorce. You need to submit your divorce decree to the second lender and work it out with them. make sure they send you a release of lien in writing to make sure you are no longer responsible both financially or legally.

Jul 20th 2011
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