Legal Question in Real Estate Law in North Carolina
In regard to foreclosures: A mortgage company refinances a note with only one signer but the deed is in the husband's and wife's name. After the divorce, the signer of the note refuses to pay the mortgage, it is legal for the mortgage company to foreclose on the property?
Asked on 12/07/10, 7:50 am
1 Answer from Attorneys
Jeff Rosner
Rosner Law Firm P.A.
It depends. Typically even if only one spouse is liable on the note, both spouses signed the deed of trust which gives the lender a security interest in the property. If the non borrowing spouse did not sign the deed of trust or is not sure, then he/she should seek legal advice.
Answered on 12/12/10, 7:57 am
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