Legal Question in Credit and Debt Law in Tennessee

HELOC on a Repossessed Property

I had a Home Equity Line of Credit on a condo. Due to a divorce my spouse (which was responsible for the condo) didn't make any payments and the condo was repossessed. I have since kept up payments on the HELOC just so my credit wouldn't take another hit. Am I legally responsible for this loan if the bank has taken the condo?


Asked on 7/23/08, 2:35 pm

1 Answer from Attorneys
KJW Firm PLC

Re: HELOC on a Repossessed Property

It sounds like you are responsible to the bank but that your ex-husband would be responsible to you. (Of course, any analysis is dependent on the wording of your divorce decree or MDA). If he will not reimburse you for your expense, you will need to take him back to court.

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Answered on 7/23/08, 4:46 pm


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