I'm married and the house is in my name. But the mortgage is in my name. What If we divorce?
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If I stop making the payment, who is respnsible to the bank for the money owed? If it's me and I default, can I be sued, even though I don't own the house? Or is the loan on the home and does not follow the borrower?
I'm married and the house is in my name. But the mortgage is in my name. What If we divorce?Read your mortgage. If you don't care about your credit score just quit making the payment. they'll eventually foreclose and she and you will lose any equity you may have in the house. Personal note , Why would you sign a mortgage and not be on title? mistake # 1
I'm married and the house is in my name. But the mortgage is in my name. What If we divorce?Because you are married, even if you divorce, you are both equally responsible for everything you've accrued together. That includes the mortgage and all bills. You both can be sued. Because in a marriage everything (in the eyes of the law) is split equally between the two partners, you are both responsible for anything that comes or doesn't come of that union, including bills.
I'm married and the house is in my name. But the mortgage is in my name. What If we divorce?If the house is in your name and the mortgage is in your name how is it that you don't own the house?
I'm married and the house is in my name. But the mortgage is in my name. What If we divorce?It is community property, and you should really talk to your lawyer, ASK them, do not TELL them what the law is.
Normally, the person keeping the house, would have to pay the other party half of the equity in the property (provided all other debts had been divided/settled)
I'm married and the house is in my name. But the mortgage is in my name. What If we divorce?since u signed the mortgage, if u default on the loan your credit will be hurt, why not sell the home and split the money?
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