The Promissory Note and Mortgage will govern the relationship between the lender and borrower. If you did not sign either document, then you are not a part of that loan. Your assets will be protected from collection should a foreclosure sale occur. A foreclosure is a final judgment that is recorded in public records and the lender can seek a deficiency judgment against your husbands assets. Your husband should seek legal advice for the foreclosure because there are better options than just letting the house get foreclosed on.
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