Legal Question in Credit and Debt Law in Michigan

Am I financially responsible for a home that my wife has defaulted on a mortgage? We are currently separated.

Asked on 10/19/11, 9:02 am

1 Answer from Attorneys

Thomas R. Morris Silverman & Morris, P.L.L.C.
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The issue is whether you signed the promissory note which would have been given to the lender to evidence the agreement of the borrower(s) to repay the loan. Assuming that you signed the note and assuming also that there is nothing which has affected your liability on the note, you are still liable. If you signed the note, it makes no difference to the lender or to your liability that you separated from your wife.

This answer is for discussion purposes only and does not constitute legal advice.

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Answered on 10/19/11, 9:12 am

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