ciccio asked:


i got a loan fom the bank, as warranty i put the appartment that i own with my ex wife, we re-financed this mortgage a couple of months ago, under her name only, the title of the appartment still under both names.
but we agreed, that she will keep the appt. in a later time, that’s why she makes the payments on her own. Now, the question is: whta happens if she stop paying the mortage, how does this affect the loan i have with the bank?
She is paying the mortgage of the appt.(condo) on her own. I’m paying the loan(money, just for me) i got form the bank on my own, The appt.(condo) is the warranty for my loan to the bank…
if she stops paying the mortgage(condo) what happens with my loan(money)?

Raymond

2 Responses to “i got a loan, w/ my mortgage condo as warranty, my x-wife is paying it, what happens if she fails to pay?”

1. Robsthings on July 31st, 2009 2:20 am

   Regina

   You would still be half responsible for the original loan.

2. Jeromy W on July 31st, 2009 9:39 am

   Claude

   Just so I’m clear, originally you had the loan, then it was refinanced into your ex’s name a few months ago, both of you are in title, and you have another loan on another property, solely in yoru name, is this correct? If so, if she stops paying the mortgage for the apt, it will not have any bearing for the loan you have seperately, if she’s on the note by herself, she has sole reponsibility for the mortgage, but she can walk away from the property or default and you run the risk of losing title to the property

Leave a Reply

Name (required)

Email Address(required)

Website