Posted on: 06th Mar, 2011 06:35 pm
I am currently in the process of divorce, and my husband and i own a home, both names on the mortgage/deed. he wants to keep the house, i don't. he says he eventually wants to buy me out, but where he will get that $$ from i have no idea! (NO EQUITY IN THE HOME).
if i move out and stop paying, am i still legally responsible for half the mortgage? since it is both of our credit at stake, i'm wondering what happens if i move out and stop paying my share. is it considered abandonment?
if i move out and stop paying, am i still legally responsible for half the mortgage? since it is both of our credit at stake, i'm wondering what happens if i move out and stop paying my share. is it considered abandonment?
Hi heymama,
If your name is on the mortgage, then you will be legally responsible for the payments. If your husband does not pay off the loan, then the lender will come after you in order to recover the dues.
Take care.
If your name is on the mortgage, then you will be legally responsible for the payments. If your husband does not pay off the loan, then the lender will come after you in order to recover the dues.
Take care.