Legal Question in Family Law in Louisiana
loan responsibility in a divorce
My brother and his wife seperated about 8 years ago. She took out a second mortgage on the house to cover her expenses, even though she had moved out. My brother, who is disabled and still lives in the house, co - signed for the loan for reasons that defy human understanding. If they finally get a divorce, and he gives her the house, is he still liable for the payment of the second mortgage even if he no longer has any rights to the property?
3 Answers from Attorneys
Re: loan responsibility in a divorce
He co-signed the note. He contracted with the bank to be their debtor.
His reasons probably do defy human understanding. Banks are more predictable than your brother. The more debtors the more collectable the debt. He probably remains stuck.
Re: loan responsibility in a divorce
Yes, unless he gets the bank to remove his name from the mortgage. Before settling the community, he should demand a condition be that his name be removed from the mortgage or else she does not get the house. She can re-finance it.
Re: loan responsibility in a divorce
Yes, unless he gets the bank to remove his name from the mortgage. Before settling the community, he should demand a condition be that his name be removed from the mortgage or else she does not get the house. She can re-finance it.
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