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Mortgage Responsibility

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andysuhy Joined: 15 Sep 2010 Posts: 1 1.30 Dollars($)	Posted: Wed Sep 15, 2010 12:01 pm    Post subject: Mortgage Responsibility Like 0 Dislike 0 A husband and wife purchase real property in the State of Michigan. The property is titled in both of their names. The morgage is issued in the name of only one of the two spouses. The mortgagee defaults on the mortgage. Can the other spouse be held responsible for the mortgage? Thanks!
sara Moderator Joined: 05 Jul 2006 Posts: 2699 Location: New Brunswick, New Jersey 497.27 Dollars($)	Posted: Thu Sep 16, 2010 2:52 am    Post subject: Like 0 Dislike 0 Hi andysuhy, The person whose name is not mentioned on the mortgage docs cannot be held responsible for the loan payments. The lender will come after the person, whose name is mentioned on the mortgage docs, to recover his mortgage balance. Take care. _________________ Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020

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