It depends a lot on the location of the residence. In California, purchase money mortgages (like yours) are non-recourse so you would not be personally liable in California. Perhaps if you would post your state, someone familiar with its laws could post an answer. But if you do live in California, you are not liable if it is the original loan used to purchase the property however walking away from the loan will hurt your husbands credit. Good luck.Jim Kirby, CPA/PFS, CFP, CFS
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