Posted on: 17th Nov, 2008 02:31 pm
My soon-to-be-ex and I bought a house five years ago. My name was not on the mortgage, but is on the deed (per Florida law). If I leave he won't be able to afford the house by himself and it will probably be foreclosed on. There is actually a little bit of equity in the house but it seems impossible to sell right now. If it goes into foreclosure what are the long term consequences for each of us? What happens after foreclosure? Since I'm not on the loan will I be liable in some way? And can the bank go after STBX later for anything once they have the house? Thanking you in advance.