Legal Question in Real Estate Law in Texas
voluntary repo of mobile home in state of texas
what will happen to current wages, bank accounts, assets, etc. Also the home is only in my maiden name not my spouses. Will it afffect anything in his name or both our names?? What if i pay them a small amount on the balance after selling will that stop them from sueing me??
1 Answer from Attorneys
Re: voluntary repo of mobile home in state of texas
If your spouse didn't sign the note or otherwise assume liability, they can't go after him. To collect a deficiency from you, the lender would have to sue you and obtain a judgment. Sometimes they will and sometimes they don't. Paying them a small amount will not eliminate the possibility of a lawsuit. The judgment will adversely affect your credit. Contact an attorney to see if bankruptcy might be a suitable option.
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