Legal Question in Family Law in Michigan
am I responsible?
with the real estate so bad right now our home is valued at 20,000 less then we owe. I bought the home before marriage and then into the marriage he refinanced the mortgage soley in his name. I am on the deed but according to the mortgage company I am not responsible at all for the loan. Can I just walk away from the home without being responsible for any money needed if he sells the house. we are almost done with the divorce, I tried assuming and refinancing but was denied at this time. He is willing to give me a year to try again (on his terms) but if I can just walk away I might be better off. I just am not sure if it would be considered the marital home therefore I would be responsible for 1/2 no matter who is on the loan. ?????
2 Answers from Attorneys
Re: am I responsible?
This question is best answered by your attorney that knows much more about your case. There are too many variables to your situation to answer your question properly.
Re: am I responsible?
It depends on how you draft the judgment of divorce. If you state that he gets the house and is resposible for payments, etc., then you wouldn't be responsible (you'd have to file a quit claim deed as well). You'd also have to see how the mortgage company would handle it - if you're not responsible to them right now, it might not be a problem.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
