Legal Question in Real Estate Law in Illinois

Signed Mortgage but Not Promissory Note

Two months before my divorce, I signed a mortgage, but not the promissory note for our home, as I thought things would work out between us. Fed up, I filed for divorce and gave the ex a quitclaim deed for the home. The ex received the home in the divorce with a promise to make the house payments. A few months ago, I was served with notice that the home was in foreclosure. I am a party to the foreclosure, except the complaint states that the bank is only seeking judgment against the ex. I received notice of a hearing to finalize the foreclosure and again, it only states the bank is after the ex for the money. I assume I am a party since my name is on the mortgage, but what about the promissory note? I did not sign the promissory note originally. I do not want the home because the ex trashed it before leaving and it appears worthless.

Am I liable for the money due and owing on the home? Can the ex come after me for any monies once the foreclosure proceedings end? Can the bank come after me in a separate proceeding?


Asked on 6/22/06, 11:06 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Signed Mortgage but Not Promissory Note

If you did not sign the note, you are not responsible for any money due the lender. Because you were married at the time the mortgage was executed, you had an interest in the property. You are named in the foreclosure only to extinguish that interest.

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Answered on 6/22/06, 11:38 am


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