adixon8899
LoanSafe Member
My husband bought a condominium 2 years before we got married, in May 2017. We got married in Aug 2019. We made an offer on a new house in Sept 2020. It was a non contingent offer and it was accepted and scheduled to close Nov 2020. We thought we would be able to sell the condo he bought in 2017 quickly but that has not yet happened. It has been on the market for 30 days now and we have not had a single offer. We have to start paying for the new mortgage from Jan 1 2021. We planned to pay 2 mortgages for a period of 3 months which will already be very difficult for us. Now, if we are not able to sell the condo within 3 months and if we choose to walk away from the Condo mortgage, my question is 1. Could the lender come after us for any deficiencies? 2. I have a bank account I had before marriage and also a stock account from before marriage. Could the lender come after those? given that the condo was bought before our marriage and my name is not on the title or any documents for the condo? The reason I ask is, I would like to protect some assets for ourselves from this mess we seemingly have gotten ourselves into. Any advice is appreciated.