Q: My wife and I are going to divorce, she wants me to cosign on a home before we divorce. What is the possible scenarios?
One of her stipulations is that I cosign for her home to buy as part of the divorce. She claims I will not be liable for any payments and we can put that in the separation agreement. She can not afford a mortgage on her own, she is planning on renting out two rooms to make the payment. Is this something even conceivable, will the court agree to this? Also, how do I protect myself if she states it is the only way she will ever divorce?
A:
Realize that if you do this, you will be responsible to the mortgage company for the payments regardless of what your separation agreement says. You can get a divorce with or without her agreement. y
You should consult with a lawyer to review your entire financial situation and advise you how best to proceed.
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