I live in my EX husbands house with my two children, his business is not doing good and he was not able to pay the mortgage. He applied for a Home Affordable Modification Program but after he spoke with his attorney he knows he will not qualify for program because of his income. He asked me to help which him by signing a home affordable modification program Non-Borrower occupant certification form, give my income tax copy, my pay stubs and SS number. My question is if he gets approved with my help and down the road if he does not pay the mortgage will I responsible for the mortgage payment? Will my credit be affected?
As long as you are not a borrower on the original mortgage loan (you would have had to sign a promissory note to become a borrower) and you do not sign any new note relating to the modification program, you will not have any obligation to pay the mortgage if he fails to do so. Please be aware that the mortgage note and the mortgage are two different documents with different consequences. If you sign the note, you are making a promise to repay the loan. However, even if you don't sign the note, you may have to sign the mortgage, because you name may be on the deed, and lenders insist that all deed owners must sign the mortgage. This allows them to foreclose the property in the event of non-payment by the person or person who signed the note.
Whether your credit will be affected is not really a legal question - it is more of a personal finance question. I cannot answer this with any certainty.
Please consult an attorney directly before taking action. This answer is intended for general information only and should not be taken as legal advice. My communication with you is not privileged and is not within, or intended to create, an attorney-client relationship. Pursuant to Circular 230 of the Department of Treasury: (1) no written statement to be provided by me relating to any Federal tax transaction or matter is intended to be used, and no such statement can be used, for the purpose of avoiding penalties that may be imposed on the taxpayer, and (2) such written statement may not be used by any person to support the promotion or marketing of or to recommend any Federal tax transaction or matter.
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