Legal Question in Family Law in Rhode Island
my husband and i co- signed on a second-mtge for a business loan. our son is now divorced and but his ex-wife and 2 children live in half duplex. our son got nothing out of this property. ex-wife difaulted a second mortgage who is responsible for this second mortgage
1 Answer from Attorneys
Since you mention nothing about a marital settlement agreement or a Final Judgment of Divorce determining who must pay the second mortgage, then I will only provide information based upon what is stated. Whoever is on the second-mortgage as either a borrower or co-borrower on the 2nd mortgage is legally responsible to the holder of the 2nd mortgage despite any orders issued by the Rhode Island Family Court.
Should you need further advice, please feel free to contact me for an affordable advice and coaching session to provide you with the important information you may be need to make crucial decisions regarding a liability such as this and the impact any court orders may have on any individual's obligations under a Rhode Island Family Court Order.
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