Legal Question in Real Estate Law in Virginia
A few years ago I got a mortgage with Suntrust Bank purposely in my name only (my wife is on the deed of trust, but no other documents). All mortage related statements and tax related matters had my name ONLY on them. Recently, because of very unusual circumstances, we have applied for a loan modification and are dealing directly with Fannie Mae. In order to qualify for the program, we had to let our loan become overdue (we were keeping it current out of savings or borrowing from Peter to pay Paul...but it couldn't go on forever. The loan modification program was originally suggested by a bank representative last year).The bank has been totally unresponsive to Fannie Mae, and last week we received a letter stating that the loan is being transferred to Seterus, Inc. on May 1. This week we recieved the monthly statement form Suntrust and noticed that my wife's name has now been added to the mortgage, even though she was never on any of the mortgage documents and has never signed anything. Is this legal to just "add" someone to a mortgage?
2 Answers from Attorneys
No, not as far as I am aware.
A Deed of Trust and a Mortgage are often used interchangeably. The main question is whether she can be added to the Note (equalling personal liability) - and in that case, the bank should not be able to do that. Reading over your orignal Note will likely give you the answer.
To get the best information, seeking the assistance of an attorney is your best bet. The Burger Law Firm handles this area of law and we�d be happy to discuss the issue(s) with you. Tel: 703-734-8506. www.theburgerlawfirm.com.
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