Not sure where my question belongs..

[MyQuestions]

Not sure where this question belongs but am posting it here (about the foreclosure laws in CA).

Back in 2007, my husband & I purchased our first home where we have resided ever since. We have been having marital difficulties for a while now and our marriage has ended as of Jan 1, 2012. We are pursuing legal separation and not divorce for cultural and medical reasons. My husband will probably move out of the house in February.

I am an SAHM. He has offered to let me keep in the house (on which he will make the payments) while he moves out. The house is currently in our joint name but I am assuming that it will have to be transferred to one of our names since the "community" is officially dissolved when we file the paperwork for the separation.

My questions :

1. Since I am technically unemployed and since he will be the one actually paying the house (my sole source of income will probably be some spousal support), will the banks (CALHFA & WF, in this case) permit me to take title solely in my name ??

2. If my husband ever changes his mind about paying for the house that I am living in, then I would be forced into foreclosure / bankruptcy. I am making the assumption that if I went into foreclosure, then only my credit - and not his - will be ruined because the house is technically no longer "community property" ?? Sorry if this is a dumb question, but thought I'd ask.

3. Finally, will the banks be able to attempt collections from him (and not just me) if foreclosure ever comes to pass ?? Our house is about 250 K underwater.

Thank you in advance for your time & responses.

[Cat Damiano]

Hi MyQ,


Welcome to the forum and thank you for joining.........

Without any income you wouldn't be able to assume or refi the property into your name which may be necessary in order to remove your spouse from the mortgage note. A consult with the attorney that you are going through for the legal separation should be able to answer the questions as to what you can expect moving forward since the laws regarding property would be state specific.