Posted by River City on May 05, 2008 at 17:12:00:
In Reply to: MORTGAGE CONTRACT posted by LINDA on May 05, 2008 at 10:56:03:
Being on the mortgage has nothing to do with being on the deed. It does not give you ownership rights.
In Florida, the spouse has to sign the mortgage for purposes of eviction and other requirements of the mortgage. The mortgage company wants the spouse to know that if the monthly payments are not paid, the spouse can also be evicted and the home will go into foreclosure. Some people believe that if they are married and only one signs the Note, the one that did not sign the Note cannot be evicted. This is not the case.
You do not need to do anything. You are only obligated on the loan if you signed the Note.
The assignment is assigning the mortgage documents from one lender to another and also has nothing to do with title to the property.