Since both my wife and I are on the title to our house but only I signed the note, if foreclosed does the bank need to compensate her for her share?
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Since both my wife and I are on the title to our house but only I signed the note, if foreclosed does the bank need to compensate her for her share?
Asked on August 16, 2012 under Real Estate Law, North Carolina
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If she wishes to make a claim for the house she needs to seek legal help here as to how that could be possible. I am sure that she will be named in the lawsuit so tell her to get an attorney. But unless the mortgage is secondary to a proper lien recorded by her - and I doubt that it is - she will lose out. Get help. Good luck.
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