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RayAnswers, Lawyer
Category: Family Law
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Experience:  30 years as a family law lawyer .
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My ex wife and I had loans in both our names on two different

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My ex wife and I had loans in both our names on two different houses. In the divorce it reads: The wife shall be awarded the following community and /or separate property, and shall be ordered to pay the following community and/or separate debts and liabilities: The wife shall be awarded the real property located at and commonly known as "it has the address and is legally described". The wife shall be financially responsible for the first position mortgage debt on the aboved-described real property, whether such debt is held by the current first position mortgage debt holder, or by any assignee or successor....until it is paid in full.
The same is said for me on the other house.
My question is. The bank is going to forclose on her house because she is not paying for it. Since the loan was in both our names, can the bank come after me for the debt on the house she got in the divorce?
Submitted: 6 years ago.
Category: Family Law
Expert:  RayAnswers replied 6 years ago.
Thanks for your question.Accountants should not practice law.If your name is XXXXX XXXXX note they very much will come after you here.Your credit gets dinged and if there is a deficiency suit then the judgment clouds your home until paid.Your house here is certainly vulnerable .The problem with the decree is that lender doesn't care.What you shoudl have done was forced her to refinance your name off the note or require her to sell.Anything less leaves you with this problem.I am sorry but you very much are vulnerable.If she files bankruptcy then that totally leaves you as debtor and often puts you into bankruptcy here.As they say there's a "storm coming" and you are right in the way.I am sorry and I wish I could tell you otherwise.
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