I Am On The Security Deed, But Have Never Been On The Mortgage Which Was Included In Bankruptcy

lucky2009

LoanSafe Member
Nov 19, 2009
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Thank you for your time, I stupidly signed the security deed on my house at closing in 2006 for my current home. My parents kept telling me to make sure I was on the DEED and I thought I was signing the deed I needed to sign. I did not know the difference between a Warranty Deed and a Security Deed. My name is also incorrect on the Security Deed filed. It is my Maiden name and my middle name is misspelled. I was never on the Wells Fargo Mortgage

In 2009, our home was included in a Bankruptcy and discharged. We have kept the house and have modified the loan twice and have made payments the entire time. My question is, if we do a Deed in Lieu of Foreclosure to Wells Fargo, will I have a Deed in Lieu of Foreclosure on my credit if I have NEVER been on the actual mortgage.

Also, can my husband now have a Deed in Lieu of Foreclosure and/or Foreclosure on his credit 9 years later?

This house has had 4 major floods in it and I am unsure about the ability to sell. I also want to move into another home in the neighborhood and it almost feels more ethical to give the home back to the bank, because the water issues.

Thank you again for your time
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
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With the home being included in bankruptcy my expectation would be that it would not show up on your credit however it would be found if you're trying to qualify for a new mortgage. Of course with the new guideline of "property included in bankruptcy" you may be able to get past the DIL seasoning to purchase a new home.

Your husband I'm assuming was in the same bankruptcy as you were, I would say the same thing as far as his credit as to yours - it will most likely not show up.