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Tennessee Mortgage Foreclosures

October 18th, 2010 Leave a comment Go to comments

Tennessee Mortgage Foreclosures

If the mortgage is signed by one person, are responsible for the mortgage?

A property is owned by a partner. The woman has a mortgage on the property. The husband does not give credit information and income. The mortgage is the only one in wife's name. They go into foreclosure. The debtor can get the husband, although that did not participate in the mortgage? Property is in both names, but the only loan on behalf of the wife. Is this legal? The property is in Tennessee, not a community property state. What the husband can do to prevent this?

As I understand it, the woman is responsible for 100% debt. If it was a state community property, both would be liable if the debt has married, while in most cases. The husband may be forced to surrender their rights to property. He can not do anything to avoid losing the house unless they can arrange their own financing or RWIN lottery and pay the mortgage.

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