Legal Question in Credit and Debt Law in Maryland
Foreclosure consequences
My mother ,now divorced and living in another state, still has her name on a mortgage with her ex; the divorce papers have her signed off from liability though. She was just notified of the property going to auction either beacuse of payments not being made or becuase of IRS money owed (she does not know which). If the house sells for $50,000 but more than that is owed on the mortgage, is the balance still due ? and is she also liable because her name is on it?
1 Answer from Attorneys
Re: Foreclosure consequences
The divorce decree does *not* relieve your mother from responsibility for the mortgage--the mortgage company can pursue her for a deficiency if the property sells for less than the balance due (including interest, late fees, legal fees, trustee's commissions, auctioneer's fees, advertising, etc.)
Brett Weiss
Brett Weiss, P.C.
18200 Littlebrooke Drive
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