Legal Question in Real Estate Law in Iowa
I am getting sued by my wifes bank. she was going in forclosure on her house and then went into bankruptcy. Now the bank is trying to get me to pay for it but i have not have no interest in it.
what do i do. I did send the courts letter stating i deny and have no interest in the townhouse. I dont know what to do now and have no money.
2 Answers from Attorneys
If you signed the paper when she got the mortgage you're on the hook. You'll simply have to gather your paperwork together and seek legal assistance from the Legal Aid Society or the Drake clinic.
In Iowa, one spouse has an interest in real estate owned by the other spouse. It is possible that the bank is only trying to terminate your interest in the property. Most foreclosures do not seek money judgments--the lenders just want the property. Also, if you did not sign the promissory note, you do not owe any money, period. If you only signed the mortgage and not the note, then the lender can only terminate your interest in the property.
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