Legal Question in Real Estate Law in Pennsylvania

Mortgage Loan

3 months after separation from my spouse, she contacted the bank where our mortgage is and they allowed a loan modification to take place that reduced the interest rate (which is fine with me), but they also extended a 15 year mortgage (which had 13 years left) to a 20 year mortgage. I had no knowledge of this transaction whatsoever. We are co-borrowers on the note. I only discovered the modification had taken place by calling the bank to see if the payment was being made on time because I pay spousal support and part of it is to cover the mortgage. I also pulled my credit report and the bank had accessed my credit on 3 different occasions for the modification but never contacted me. Can a bank extend the term of a mortgage loan without both borrowers signature? I'm concerned that she can get a home equity loan, etc without my knowledge or signature! Please let me know if you can help.


Asked on 2/19/04, 10:04 am

1 Answer from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Mortgage Loan

You should seek legal advice. The loan could not be modified unless you agreed and signed the documents. However, you must have been in title and signed as a borrower on the original loan. Check with the Bank to see if they have your signature. However, the best course is to have your attorney contact the bank. Gerald Hershenson 215-579-9390

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Answered on 2/19/04, 10:24 am


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