Legal Question in Real Estate Law in Arizona

Mortgage

My husband just passed 3 months ago. When he refinanced the house last June of 06 he obtained it using stated income and I was not on any of the loan docs. I am on the deed of trust. Can I be held liable for the debt. The mortgage company said I can't be held liable and it will not effect my credit to just walk away and let them foreclose. What should I do? Can I really walk away from it with no reprocussions to my credit? Thanks!


Asked on 11/01/07, 4:55 pm

2 Answers from Attorneys
Brian Blum Blum Law Office, PLC

Re: Mortgage

I think it's extremely unlikely that your name is not on the note. But even if it's not, the mortgage would probably be considered a "community debt" and therefore you are both liable to pay. See an attorney who can look over all the documents and get all the facts before you make any decisions.

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Answered on 11/01/07, 5:07 pm
James Jenkins Jenkins Law Center PLC

Re: Mortgage

This is a consumer/bankruptcy law question, not a real estate question. Please resubmit your question.

You may in fact be able to do as you desire, if in fact you never signed a loan document. I would verify that first. See a consumer law attorney.

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Answered on 11/05/07, 11:17 am


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