Should I respond to foreclosure paperwork if I am only on deed and not on mortgage?
3 attorney answers
Is the market value of the home more or less than the mortgage? If more, than you may have some value to capture here. If not, then there is little incentive to cooperate with the lender. If you just want some added piece of mind, you could offer to cooperate to speed up the foreclosure for the lender by consenting to a judgment or offering a deed in lieu in exchange for a full general release from all liability under the loan. If any of this is of interest, then hire a lawyer to advise and navigate you through such negotiations with the lender.
You are not liable for the loan if you never assumed it. The question is do you want the house? If so, meet with an attorney who handles foreclosure defense cases.
Please note this is to be considered general advice and not legal advice about any particular situation. The answering of any question does not...
Since you are the owner of the house, you can be affected by the foreclosure. It is always better to respond to the complaint than to ignore it.
Please contact a foreclosure defense attorney to discuss. Most of us offer free consultations.
I am licensed in Florida, New Jersey and New York. My firm also operates in Illinois and Pennsylvania. This response does not create an attorney-client relationship.