Forclosure process started, I never signed DOT.

[gpatrick12]

NC - My wife purchased a home in NC 3 years ago. We were not married at the time. On the date of closing the property was conveyed to my wife and I as Tenants in Common with Right of Survivorship by General Warranty Deed. At the closing my wife exectured a deed of trust against her interest in the property in favor of the lender but I did not. I never executed a deed of trust against my interest in the property. My wife and I both lost our jobs last year and she filed for CH. 7 bankruptcy proctection. The home was included in the bankruptcy, which has been discharged. The lender began the forclosure process. The forclosure process has been encumbered because I never signed the deed of trust in favor of the lender.

The filed a civil suit against my wife and I and is attempting to reform the original deed of trust to include my name. I am hesistant to comply with this request as I do not understand the full legal ramifications of doing so. I am interested in finding out...

1. What is the extent of my interest in the property since I did not sign the deed of trust.

2. Was the loan ever properly secured?

3. What will happen if I tell the court my intentions are to not reform the deed of trust.

4. Can the lender force my hand ie. force me to sign over my interest in the property?

5. What the heck should I do?

Thanks for your advice

 

[seniorjudge]

1. What is the extent of my interest in the property since I did not sign the deed of trust.

2. Was the loan ever properly secured?

3. What will happen if I tell the court my intentions are to not reform the deed of trust.

4. Can the lender force my hand ie. force me to sign over my interest in the property?

5. What the heck should I do?

1. You have (apparently) a half interest in this real estate. Signing or not signing a deed of trust is irrelevant to what interest you have in this real estate.

2. Sounds like the half on your wife's interest was properly secured (that is, if you are saying you did not encumber your half).

3. Then the d/t will not be reformed.

4. I thought you said you had not encumbered your half; what lender are you talking about? You may wind up sharing your real estate with the lender.

5. How the heck should I know?

I think there is a lot you are not explaining here.