Posted on: 14th Aug, 2010 11:42 am
In a divorce sistuation, the mortgage is in the name of both husband & Wife.
He is divorcing her and quick claiming the property to her.
If this is stated in the divorce decree that she has sole ressponsibility for the mortgage payment, does this release him from any liability for ther mortgage?
He is divorcing her and quick claiming the property to her.
If this is stated in the divorce decree that she has sole ressponsibility for the mortgage payment, does this release him from any liability for ther mortgage?
Welcome dches,
Unless the wife refinances the loan, the husband will remain responsible for paying the mortgage dues. If the wife defaults the mortgage payments, the lender may come after the husband in order to recover the dues.
Unless the wife refinances the loan, the husband will remain responsible for paying the mortgage dues. If the wife defaults the mortgage payments, the lender may come after the husband in order to recover the dues.