My spouse embezzled $300,000, possible divorce. Can a lawyer get me out of my mortgage obligation unscathed?

He will likely lose his job and because of his crime, I want to sever all ties. House will be difficult to sell in this job market. Will legal counsel be able to help me remove my obligation to the mortgage in lieu of these new circumstances in divorce proceedings? Is it a possibility to work with counsel to remove my name from the mortgage even if I stay with my spouse, so that should our relationship eventually deteriorate, I can make an exit without having my credit destroyed?

You told the bank you would be responsible for paying the mortgage. From a legal point of view, it’s not the bank’s fault that your husband is scum. You owe them the money no matter what your husband does. A divorce does not remove your obligation to the bank. You can ask the bank to refinance in his name only, but they are under no legal obligation to do so. They probably won’t refinance if he doesn’t have a job. Sorry, but that’s the law.

In House Counsel and the Economic Environment



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