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My soon to be ex-husband, purchased a house after we separated (in his name only). He is currently looking to re-finance his mortgage for a lower interest rate and has advised me that I must sign the mortgage papers acknowledging the transaction. Am I liable for this mortgage if he defaults? If so, what can I do to make sure that I am NOT liable for this mortgage should he default? We live in NJ. Thanks.

helping_user · Posted: Tue Nov 28, 2006 9:42 pm Post subject:

Hi Danygirl,

If you did not sign the mortgage paper then you are liable for any mortgage payment.

What I suggest, there is not to sign any document. Since, very soon you are going to divorced him. And he purchased the house in his name only. And at present if you sign this type of mortgage document then in case if he default any mortgage payment then you will liable for that. And it may affect your credit score.

It may happened that if your ex-husband aware of this type of laws, then in future he stops making monthly payment and you will be in great trouble.

Yeah one more thing, since you are not in the title of the home even not in mortgage paper so you don't have any rights on that house.

Thanks

adonis · Posted: Wed Nov 29, 2006 12:17 am Post subject:

Hi Danygirl,

Do not put your signature on any mortgage related paper. You may be in trouble.

If you are looking to stay separate, then try to take the legal steps asap.

Thanks

mcole · Posted: Thu Nov 30, 2006 5:28 am Post subject:

What he may need is for you to sign a quitclaim deed, not the mortgage.

When a married person is trying to get a loan in their name alone, typically the lender will require that the spouse sign a quitclaim deed to relinquish any rights they may have.

If you have any questions or doubts, talk to your divorce attorney. They would be the best ones to advise you what to sign, or what not to sign.

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mortgage liability for separated couple