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.
This response does not create an attorney-client relationship. Unless you are already a client of the Law Office of Preston H. Oughton, pursuant to an executed fee agreement, you should not use, interpret, or rely on this response as legal advice or opinion. Do not act on any information in this response without seeking legal advice. Preston H. Oughton firstname.lastname@example.org (904) 854-6336.