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?
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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