My husband bought a home (he was the only one on the loan) but they deeded the home to both of us. He filied bankruptcy on the home, the bank never foreclosed on the home they stated that it was not worth it, my husband got a praecipe to settle, discontinue and satisfy, which protects us from foreclosure. The bank states they can not ask us for money, but we can make a settlement on the home to satifsfy the deed! Does the Praecipe that we received not cover the deed also? The praecipe included the following: "verdicts, judgments, executions, awards, decrees, equity, liens, courterclaims or cross-claims". Now when we received this my name is on this Praecipe, but I am not listed on the mortgage loan or papers!
You are confused, I think. The praecipe to settle and discontinue the foreclosure action has nothing to do with your deed. Until a sheriff sale is conducted, you continue to own the property.
You should file the praecipe with the prothonotary if you have not already done so.
If it costs you a little money, the filing fee is going to be under fifty dollars and might be as low as five, do it.
Clifford L Tuttle, Jr
Attorney at Law
The foregoing answer does not constitute legal advice and does not create a lawyer-client relationship. Answers are based upon the facts stated and may change if there are additional facts not contained in the question.
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