Mortgage is in DH name

[Faithfullymovin]

My husbands name is the only name on all the paperwork from the mortgage company. I do not work and we used his credit (not mine) to obtain the mortgage. So he is the only one that I believe took out a 1st and 2nd mortgage. But on the foreclosure notice my name is listed along with his as being in default on the mortgage. The foreclosure notice is from the mortgage company attorney.

I keep thinking that this is wrong. My name should not be there. I did not obtain the mortgage my DH did and everything that comes to us by mail about the mortgage is addressed to him.

My question is should I be concerned that my name is listed on the foreclosure notice and will this hurt my credit?

We are trying to save my credit but it looks like it might get trashed too.

Thanks,

[HHM]

Well, it may be as simple as the fact that your name probably appears on the Deed.

To be sure, you would have to go back to your closing documents from when you bought the house and review exactly what you signed.

[justbroke]

Could also be that the Deed was recorded in both your names. The foreclosure lawsuit must name all persons named on the Deed and then usually have some "unknown tenants" listed as well. (Don't ask me how I know this.)

Best to check the Deed.

[hnhlvr]

Hi,
My DH is the only one on the actual mortgage (as he got approved for the loans and I wasn't on the applications). On our first mortgage, we get about 16 letters for every notification - NOD, trustee selling dates, etc., and each is either addressed to him, me, or "the spouse of him," or "the spouse of me," however, my credit score didn't go down AT all because of our mortgage defaults AND due to trustee sales.

On our second mortgage, I haven't gotten a single letter!

My credit score stayed high until I defaulted on my CCs.

[Faithfullymovin]

Thanks to everyone for the much needed information.

hnhlvr:

When was your foreclosure completed?

My credit is still really good and has not been affected yet. I will just wait and see.

We are waiting to see what we receive after the sale date which is January 7th to know what to do next.

Thanks,

[hnhlvr]

We missed our first payments in June and then we got the NOD in August and the house was suppose to be auctioned off on Dec. 5th, but it's been postponed until 1/16/09.

Someone came and kicked in the side door and changed one lock and put a lock box on it. The front door locks are still the same and my garage door opener still works. I have NO idea why they're still letting us go into the house.

We decided to move right before we'd be late on our first payment, so we filled out a rental application the later part of May when our credit was still good.

Are you still in the house now?

[Tbornetun]

Depending upon your state...

It is law in Minnesota that the spouse be listed on the deed for ALL real property. This is why your name was probably listed on the foreclosure notice.

It happens all the time around here, it will not be on your credit, the debt is not yours.

[Faithfullymovin]

hnhlvr:

We moved when we missed our first payment as well. My husband found a job out of state and we could not afford the house and pay rent as well. We were very upside on our house as the housing market in Michigan crashed.

We are in a nice new house. A local builder had a lot of none moving inventory and leased us a new house. We filled out the application before his credit got nasty. So I am glad we did that.

Thanks for the info.

[Faithfullymovin]

Depending upon your state...

It is law in Minnesota that the spouse be listed on the deed for ALL real property. This is why your name was probably listed on the foreclosure notice.

It happens all the time around here, it will not be on your credit, the debt is not yours.

Thanks so very much for the information. I am feeling much better!

[mgmtrnr]

I'm in North Carolina and when I got my foreclosure papers in the mail there was always an envelope addressed to just me and then there was another envelope addressed to "Any spouse of....". Same exact paperwork in both envelopes but there were always two sets.

The funny thing about it is that I'm not married...never have been.

So, maybe the law office just uses the "Any spouse of...." so that they have all their bases covered.