Legal Question in Civil Litigation in Wisconsin
On the settlement statement but not the loan
My girlfriend lived with an ex-boyfriend. He had terrible credit and couldn't get the loan to the house with his name on it. She got the loan in her name alone and they both are on the settlement statement. He electively moved out and she sold the house and took a loss. Is he obligated to pay pack half the mortgage and the short on the loan when the house was sold?
1 Answer from Attorneys
Girlfriend Responsibility for Mortgage on Ex Boyfriend's Home, Bankruptcy Options
Girlfriend Responsibility for Mortgage on Ex Boyfriend's Home, Bankruptcy Options
Yes, your girlfriend is responsible for 100% of the balance, plus interests, costs and legal fees, for any loan she signed for which has gone into default. Unless the ex boyfriend also signed the loan or other documents guaranteeing payments, he is not responsible for the loan, regardless of short sales, etc. However, she may have the ability to sue the boyfriend for unjust enrichment of breach of contract (if there was one) in order to be reimbursed for what she is forced to pay. There is, however, good news about bankruptcy options in this case; she can declare bankruptcy and avoid paying the loan. These comments are not intended as legal advice for you unless you subsequently retain me.
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.
