Posted on: 12th Jun, 2010 06:45 am
My husband and I are going thru a divorce, I am a stay at home mother and make no income. we are on both first and second mortgages and there is no equity in the house, what is my financial responsibility ?
Though you are a stay at home mom, as your name is on the mortgage docs, you're equally liable for the loan. After your divorce, if your husband stops the loan payments, the lender can come after you for the dues. Moreover, if the property is foreclosed upon by the lender, then it will have a negative affect on your credit scores as well.