Mortgage


#1

I think I know the answer but just want verification. My wife and I acquired our house after our marriage. My name is on the mortgage not hers, both of our names appear on the deed. She left the marriage, originally I wanted to seek counseling however she didn’t. Our house took a hit on tax value of about $40,000. Since she left the marriage and it looks like the house will be going into foreclosure who will ultimately be responsible for the difference if the bank asks for it to be paid. Both of us since it is a marital debt or just me?


#2

not an attorney

But, I have been in this exact situation. After ex and I married, we bought a house, but only my name went on the mortgage loan. He was listed on the deed, as per NC law, and when we separated, the house foreclosed and the banks are ONLY coming after ME…because I am the one that signed the paper agreeing to be held responsible for the loan.

So, even if the court orders that she pay 1/2 the amount owed, if she doesn’t, the banks don’t care because she isn’t the one who signed the loan. However, you could take her back to court for contempt…but that and a dollar won’t buy you a cup of coffee, unfortunately.

Since my divorce, my ex has paid all of NOTHING on any of the debts that he was ordered to pay, and to be honest, it’s not even worth it for me to take him back to court for contempt at this point. I’ll just spend money to get a court to yell at him, and he still won’t pay, and the creditors will still only come after me.