Legal Question in Real Estate Law in Maryland

5 years ago I got divorced and part of the divorce agreement was that my x would refinance the house and remove my name. He never did. I in the mean time purchased a new home. I was just informed that my x is gonna walk away from the house. I am aware that the mortgage company is still going to hold me responsible for the mortgage. My Question is.... can the mortgage company come after my new home?


Asked on 6/18/12, 9:57 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

It's unlikely they will do so, but if it's just in your name and they sued you on the defaulted note it would be subject to a collection action. The greater risk is the negative impact on your credit score from the foreclosure. It's fortunate that you were able to buy a new home (presumably with a mortgage) despite the old one still on your record. What usually happens is they foreclose and just end up with the property or, in some cases, a 3rd party bids it in at the foreclosure sale and pays off the mortgage. But if it's underwater that probably won't happen. Meanwhile, you could pursue your ex for contempt of court assuming your agreement was part of the divorce judgment.

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Answered on 6/18/12, 10:23 am


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