Legal Question in Credit and Debt Law in New Jersey
My ex husband and I purchased a timeshare together. We divorced last year and the timeshare was foreclosed. Can I pay half the balance to have my name removed from the foreclosed property?
Asked on 3/08/11, 10:40 am
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
Not likely. The lender is entitled to a judgment against anyone who was named in the mortgage. The lender has no reason to release anyone unless their alternative is a dual bankruptcy.
See also: http://info.corbettlaw.net/lawguru.htm
Answered on 3/08/11, 4:54 pm