Legal Question in Credit and Debt Law in Michigan

Divorce

I have been divorced for about 6

months and in the decree it states

that I have no resposibilty for the

mortgage of the house. He kept it. I

also quick claimed deeded the

property. However he was unable to

re-finace so my name is still on the

mortgage. What will happen to me if

he walks away from the house. I

have a new condo and a new

mortgage in my own name. The old

one is in both our names?


Asked on 10/02/08, 12:43 pm

2 Answers from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: Divorce

If he walks away from the house it will hurt your credit as much as his.

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Answered on 10/03/08, 2:51 am
Renee Walsh LawRefs Nonprofit

Re: Divorce

If he walks away from the house, the mortgage company can sue both you and him. The fact that you divorced had no impact on your obligation to the mortgage company. The Divorce Agreement/Judgment binds only you and your ex. Therefore, you would be forced to sue your ex for any damages resulting from his failure to pay the obligations according to the Judgment.

Typically, you should not have signed over the deed to the house until he refinanced the house out of your name. You still owe the mortgage company but have no title to the house which is the security for the mortgage.

If you have further questions or concerns, please contact me at www.lawrefs.com.

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Answered on 10/02/08, 1:44 pm


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