Hello Susan,My name is XXXXX XXXXX X'X a licensed attorney. Glad to try and help out.I am truly sorry to hear about your troubles. My heart goes out to you.Here is how this works. Many folks don't understand, but creditors are bound by the secured instruments and not the final divorce decree. For example, assume just for the sake of illustration that your divorce papers purported to relieve you of all liability for credit card debt. That will absolutely not stop the credit card company from coming after you, if your name is XXXXX XXXXX account, regardless of what the decree says.Likewise, here the outcome will be governed primarily by the mortgage paperwork. So, the botXXXXX XXXXXne answer is yes, you can walk away from the mortgage, as you put it. However, there will of course be adverse consequences such as a negative impact on your credit owing to the foreclosure. That is true if you are listed on the mortgage(s). If that is not the case with either one, you are in a fortunate position. Since your former spouse is bringing child support into the picture, I would just suggest that you give serious consideration to seeking a consultation with local family law counsel You could do so for a very modest fee and it would truly be worthwhile to do so with all that is at stake.If you have a follow-up question or need clarification, please just say the word by using "reply" to reach me.I hope all works out for you.
Not sure if my second question came through. sorry for being repetitive if it did. I appreciate your help.
Question: if my name is XXXXX XXXXX the mortgage but is on the deed and the house goes to foreclosure, am I liable to the finance company?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).