Posted on: 25th Oct, 2010 09:23 am
I'm divorcing and have moved out of the property. My husband has not paid the mortgage in 6 mos. My name is on the title only, not the actual loan. Will I be responsible or held liable for paying for this loan if he forecloses? He is contesting the divorce and anything related to the divorce (i.e., quit claim) I was told that a bank could come after me for the balance on the loan. Is that true? I live in IL.
As your name is not mentioned on the mortgage docs, you're not personally liable for the mortgage payments. If your husband defaults the mortgage payments, the lender won't come after you to recover the dues.