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  1. #1
    Join Date
    Jul 2009
    Posts
    1

    Exclamation Effects of Foreclosure or Short Sale on a Person Not on the Mortgage but on Title

    My question involves a foreclosure in the State of: Maryland

    My boyfriend at the time purchased a condo and included me on the title. We had broken up and he has since defaulted on the loan. I am not on the loan but only the title.

    Recently I received Foreclosure papers on the property addressed with both of our names. There is also a lien place against the property in both of our names by the condo association.

    I am very concerned. Am I held responsible for the condo fees? Will the foreclosure also be on my credit report if I am not on the mortgage. How will this affect me?

    I also understand from his sales agent that he is has been approved for a short sale and received a sales contract but the bank is reviewing the file. How come a Foreclosure is still taking place?

    Please help!

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Effects of Foreclosure or Short Sale on a Person Not on the Mortgage but on Title

    What do you mean that he included you on the title? You knew about this? You signed documents accepting title ownership? Did the covenants or contracts you signed create an obligation on your part to pay the condo association fees?

    Who's foreclosing? Even if it's the lender that approved the short sale, it may be covering itself in case the short sale fails.

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