If your name is on the deed but not the mortgage who is responsible for the mortgage when the house is sold?
The mortgage will be paid off from the proceeds of the sale. The buyer's attorney will make certain the mortgage is paid off before the buyer takes title.
You normally have two options in this case with the mortgage, one is to try to assume the loan if it is an FHA or a VA loan. If it is anything other than that, you will not be able to assume the loan. The tricky part now on the assumption is that you are on title already so would need to check an make sure you are still able to assume the loan.
You would have to qualify like any other mortgage so option 2 might be better anyway as you would probably get a better rate, which is to do a refinance of the property getting a new mortgage. The legal terms are pretty simple. The current mortgage company has a lien against the property in the name of your husband.
If the mortgage is not paid they can foreclose on the property to recover the money they lent. Call me to discuss a refinance or an assumption 610-906-3109.
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