house is forclosed and husband is the only name on the property. how can the wife protect herself, and they were marred at the time property was purchased. husband lost the home and only told wife they lost the home, i week before the house was sold. and they had to move out. is a legal seperation going to protect her in case the husband is responsible for other monies owed? he is not very responsible.
2006-07-18 01:29:09 · 8 answers · asked by cmac 3 in Business & Finance ➔ Renting & Real Estate
The person on the mortgage/loan is responsible, not the spouse. If you run her credit, the loan should not show up.
Regards
2006-07-18 23:00:53 · answer #1 · answered by Anonymous · 1⤊ 0⤋
She is not responsible to the mortgage company or the bank, but that's a separate issue from that of marital liability.
It doesn't matter what the husband told the wife or didn't tell. When it comes to the separation and divorce, the wife is equally responsible for the debt incurred by both during the marriage. The effective date from which marital liability is not to be shared is negotiable and put into the separation agreement for the protection of the non-spending spouse. Sometimes the lawyer or mediator forgets to put that in the agreement, so the wife of a spend-happy soon to be x husband should make sure it goes in as soon as possible.
2006-07-18 01:42:45 · answer #2 · answered by scubalady01 5 · 0⤊ 0⤋
In Texas it is 50/50. She is 1/2 responsable
2006-07-18 01:35:43 · answer #3 · answered by lovebird 1 · 0⤊ 0⤋
Hopefully the wife signed a "DISCLAIMER DEED" which is required in community property states. In that case she would be excluded from any responsibility.
Your best bet would be legal advise. Attorneys are the hemorrhoids of life, but sometimes you have to use them.
2006-07-18 01:52:42 · answer #4 · answered by Nick R 3 · 0⤊ 0⤋
Sorry for this answer, but it depends on the state in which you reside. I live in PA and my wife's name is not on my mortgage only because she was in med. school and not earning anything when we applied. However, if I screw up on the mortgage, it can default to her.
Seek legal advice immediately. I wouldn't try to get important information this way. Your question is way too important.
2006-07-18 01:33:45 · answer #5 · answered by dave-215-212 2 · 0⤊ 0⤋
Your daughter could desire to be in violation of FEDERAL regulations with the aid of homesteaded the different sources she is titled to. you may desire to insist she pay a million/3 of the valuables taxes each 365 days, yet my wager is she can no longer fall for it. you're purely different concepts are #a million depart or no longer it is, yet write a will, #2 depart it the way it is. yet you would be able to could desire to hire an lawyer to help you out of this one. ultimate of success
2016-11-02 06:45:42 · answer #6 · answered by ? 4 · 0⤊ 0⤋
depends on which state u live ( i think ). but "joint signatures" and "joint accounts" are everything. pre-nup agreements hold up pretty well.
Cancel any credit cards you have tho.
2006-07-18 01:35:27 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You might get some help on this website...
http://worldlawdirect.com/
2006-07-18 01:34:16 · answer #8 · answered by Anonymous · 0⤊ 0⤋