Legal Question in Business Law in Illinois
selling a house
My husband wants to sell the house but is under his name, we are not together anymore. i want to know if selling for less, the money we would still be owning, I would have to pay? or only him bacause is only under his name
Asked on 12/13/08, 9:34 pm
1 Answer from Attorneys
Lesley Hoenig
Lesley A. Hoenig, Attorney at Law
Re: selling a house
If your name is not on the loan, you will not be liable. If you were on the loan prior to getting divorced, you would want to make sure that he in fact refinanced to make sure you were removed from the loan. Otherwise, he can negotiate a short sale with the mortgage company so that no deficiency would be owed.
Answered on 12/13/08, 11:05 pm
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