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Can the bank just switch the name on the loan without notification?

Seven years ago I was divorced. In the terms of the divorce, I

agreed to take over the mortgage payments- since I'm a stay-

at-home Mom we decided to keep the loan in his name. The

house transferred in my name. Now, the ex wanted to get a

loan and it seems he has too many outstanding loans. He went

to the bank and explained that I am paying for that one and

he may have mentioned that the house (which the loan is for

is in my name).

I paid my mortgage today and noticed that the name on

the receipt was no longer his, but mine. Can they do this?

His social security # is attached to the account as he

doesn't have mine, but now my name is on the account

and if there are any previous delinquencies, they go against

my credit. I knew nothing about it and have not spoken to

the bank yet as I wanted to gather my thoughts first.

How can a bank just transfer the mortgage from one name

to another without notifying the other party- without any

representation by the other party?

1 Answer

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  • Anonymous
    1 decade ago
    Favorite Answer

    They probably just took his name off the billing notice, however, his name is still on the note and deed of trust, and he's still liable for the loan.

    Lenders like having more than one person on the note, it gives them a better chance of getting their money if there is a default.

    Source(s): RE Broker
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