Long time lurker. First time poster.
This is a situation a friend of mine is in..
The note is in the name of her former husband.
The Mortgage is in both of their names.
The deed is in both of their names.
She got the house in the divorce, but the x husband still hasn't signed over a quit claim deed to get him removed from the title.
As she got behind and tried to modify the note, the mortgage company told her she was not eligible for a loan mod as she was not on the note. And while the X was willing to modify, they wouldnt modify the loan in his name as it is not his primary residence.
Ok now for the question: Since the note and mortgage are not in the same names, have they been bifurcated? And if so, can the conclusion be made that the note is now an unsecured debt?
Anyone know of any cases where the court has ruled on a similar situation?