If my name is on a house deed but not on the loan and the bank foreclosed on the property, do I have any ownership rights?
Question Details:
No, you do not. When the home is foreclosed, it cuts off ALL ownership interests in the property: that is, all persons on the deed cease to own the home, and the bank takes it, to sell it to pay off the defaulted loan. If there there is any money left after the home is sold at a foreclosure sale and the mortgage paid (that is, the home is sold for more than the balance on the mortgage), you will get your share of the remaining money, but that's all you are entitled to.
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