Legal Question in Credit and Debt Law in Georgia

Re: Separation/Divorce

First, let me say that the mortgage company did not "screw up". It is common for only one owner to be obligated on the note (as a matter of fact, in the context of husband/wife, a mortgage company is required to disclose that if one party would qualify alone, the other party is not required to be on the note). The question is, did you sign anything when the loan was taken out?

Now to your question.....depends on what you mean by "responsible" and whether or not you signed anything. You will not have to pay back any of the note. So the company will not come after you for money. BUT if you did sign a few things (the deed to secure debt, the truth in lending statement, etc.) when your husband got the loan, then if you husband stops making the house payment (and nobody else does), then the mortgague company can (and will) foreclose on the house and you will loose your ownership interest in the house (that is what you agreed to when you signed those few things).

This answer, though responsive to the question, is general in nature. It is not designed to be and should not be relied on as your sole source of information when analyzing and resolving a specific legal issue. Each fact situation is different; the laws are constantly changing. If you have specific questions regarding a particular fact situation, I urge you to consult with competent legal counsel.

Re: Separation/Divorce

If your posted facts are correct, a mortgage company screwed up (and it is a very serious lapse of judgment on their part) and only had one person sign a note when there are two owners, they can only collect money from the person on the note.