My wife and I signed a mortgage papers. She signed the note and I didn’t. She became ill, we had to abandon the house and let them foreclose. She’s passed away and the mortgage company is after me threatening me with foreclosure and a deficiency judgement. Can they get a deficiency judgement against me?
{ 1 comment… read it below or add one }
Effectively, yes they can. They can foreclose the property because the property is the collateral for the loan. They can also obtain a deficiency judgment against your wife’s estate, of which I would assume you are the beneficiary. Thus, whatever your wife left to you in terms of money (other than life insurance) is subject to a deficiency judgment.