Replies

Wanna go have some fun. If you own your house with your wife, go call up 10 banks and tell them you want a mortgage on your half of the house. The bank will tell you to take a hike. Why? As an attorney that specializes in credit and loans, I can tell you that if JFK Jr, drops dead tomorrow, the bank will not be able to collect their mortgage. States in the Northeast have tenancies by the entireties. This means that any lien or judgment creditor of the debtor spouse cannot foreclose or execute on the home if the judgment/lien is only against one of the parties.

To execute a judgment or foreclose a mortgage, both spouses must be obligated under the note and mortgage. I have many cases where we have judgments against a spouse that owns their house by the entireties with a non-debtor spouse. We have to wait for the non-debtor spouse to die first. If the debtor dies first, the non-debtor takes the house free and clear of any and all encumberances that the deceased spouse my have accumulated.

One exception to this rule in those 7-8 states that follow Tenancy by the Entireties is when a property has many units or is capable of partition. If the Kerry's own several hundred acres this may be possible, but usually can't be done.

In summary this mortgage is as bogus as Kerry's core beliefs. He could not have possibly gotten the mortgage except through favortism and special favors from Fleet Bank.