Legal Question in Real Estate Law in Maryland

A former friend moved in with me several years ago to share my mortgage expenses. We could not add him unto the loan legally because I was told that he would have to be the primary and I had already owned the property for three years prior to him moving in with me. He insisted on having his name put on the Deed for the property which I did. We refinanced, he spend $10,000 and after two years, he moved out leaving me with a mortgage I couldn' t afford. Needless to say, I ended up doing a Shortsale which ruined my credit and the creditor for the second mortgage loan is coming after me for payment. ($53,000). II will have to declare bankruptcy to make that go away and want to make my former friend responsible for half of that loan. If he signs, will it hold up in court?

Asked on 5/31/11, 12:20 pm

RAYMOND CARIGNAN Raymond Carignan, Esq, LLC

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If you file a chapter 7 he will be responsible for the entire balance.

Answered on 5/31/11, 12:25 pm

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