Do I file for banruptcy if my name is in the title but not on the loan? 26 Answers as of August 26, 2011

Do I have to file for chapter 7 after foreclosure if i'm not in the loan, but i'm in the title?

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Heupel Law
Heupel Law | Kevin Heupel
No, there would be no need for you to file bankruptcy since you did not sign the mortgage despite being on the deed.
Answer Applies to: Colorado
Replied: 8/26/2011
Eric J. Benzer, Attorney at Law
Eric J. Benzer, Attorney at Law | Eric Benzer
No
Answer Applies to: Maryland
Replied: 8/6/2011
Glen A. Kurtis, P.C.
Glen A. Kurtis, P.C. | Glen A. Kurtis
If you are not on the note/loan there is no obligation to pay it back.
Answer Applies to: New York
Replied: 8/4/2011
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
You are not personally liable for a mortgage that you did not sign and are not listed on. You can own property with another person that is subject to a mortgage and is foreclosed upon, but the lien-holder will not be able to collect against you personally.
Answer Applies to: New Hampshire
Replied: 8/3/2011
The Law Offices of Mark Wm. Hofgard, Esq.
The Law Offices of Mark Wm. Hofgard, Esq. | Mark Hofgard
If you have not signed the promissory note and deed of trust, you are not personally liable to repay the loan. The secured creditor can only foreclose as against its interest in property. If there is a deficiency and you have not signed the note, you are not liable. You do not have to file Chapt 7 for any reason, and if this is the only loan outstanding you should explore other alternatives. If you have other unsecured debt and can meet the "means test," perhaps Chapter 7 should be considered.
Answer Applies to: Colorado
Replied: 8/3/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    If you are not on the loan then you do not owe the money even if you are on title to the property. There is no need for you to worry about it since you cannot be sued by the bank if you are not on the loan.
    Answer Applies to: California
    Replied: 8/3/2011
    Apple Law Firm PLLC
    Apple Law Firm PLLC | David Goldman
    Generally, in the situation you describe, there is no liability for the foreclosure. You should have the documents reviewed by an attorney to make sure and evaluate your risks.
    Answer Applies to: Florida
    Replied: 8/3/2011
    Ryan Legal Services, Inc.
    Ryan Legal Services, Inc. | Kevin Ryan
    depends on what other debt and assets you have. Discuss with a bankruptcy attorney by phone as soon as you can.
    Answer Applies to: Ohio
    Replied: 8/3/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    No. Just check your credit report and make sure it remains clear of this.
    Answer Applies to: Virginia
    Replied: 8/3/2011
    Lewis Adams and Associates
    Lewis Adams and Associates | Lewis P. Adams
    If you have never signed a contract making you liable for he mortgage, you are not responsible for any deficiency on that loan. Title ownership does not obligate you on loan obtained by someone else.
    Answer Applies to: Utah
    Replied: 8/3/2011
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    If your name is not on the promissory note (loan) then you are not responsible for the debt although your name may be on the title to the collateral.
    Answer Applies to: Michigan
    Replied: 8/3/2011
    Grennier Law
    Grennier Law | Michael Grennier
    Generally, you need only file bankruptcy if you have financial responsibility. If you are not on the loan, you likely have no financial responsibility.
    Answer Applies to: California
    Replied: 8/3/2011
    Judith A. Runyon, Esq. Attorney at Law
    Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
    No
    Answer Applies to: California
    Replied: 8/3/2011
    Melinda Murphy Dionne, PC
    Melinda Murphy Dionne, PC | Melinda Murphy Dionne
    If you did not sign the note, you are not responsible for the debt on the home and there is no reason for you to file for bankruptcy.
    Answer Applies to: Alabama
    Replied: 8/3/2011
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    If you are VERY sure you are only on the title and you did not sign anything for the note or mortgage, then no, they cannot hold you responsible for the deficiency after foreclosure. But I would call the attorney firm who is doing the foreclosure and make sure you are not on the mortgage or note. Their name and address would be on the bottom of the foreclosure notice you got. Good luck!
    Answer Applies to: Michigan
    Replied: 8/3/2011
    Theodore N. Stapleton, PC
    Theodore N. Stapleton, PC | Theodore N. Stapleton
    If you want to stop the foreclosure you must file before the foreclosure day. If you are surrendering the house you can file BK after the foreclosure and discharge any unsecured deficiency form the foreclosure sale.
    Answer Applies to: Georgia
    Replied: 8/3/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    If I understand your question right you cannot be sued on a loan that is not in your name.
    Answer Applies to: Georgia
    Replied: 8/3/2011
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