Posted on: 05th Jan, 2009 06:28 am
When going through a divorce, the only way according to the lenders to buy our family home from my soon to be ex and for him to buy a new home was for us to both sign quit claim deeds. We were told that each would not have any financial obligation should one or the other foreclose. Now I'm being sued after he walked away from his obligation. Help!
Hi Deb,
If the property is in the name of your ex and if the mortgage also has your ex's name, then you should not be made responsible for the payments. Neither your credit should get affected if your ex does not pay the mortgage dues. In my opinion, you should speak to the lender and inform him that you are not responsible for the property.
Thanks
If the property is in the name of your ex and if the mortgage also has your ex's name, then you should not be made responsible for the payments. Neither your credit should get affected if your ex does not pay the mortgage dues. In my opinion, you should speak to the lender and inform him that you are not responsible for the property.
Thanks