[marie1920]

My relative cosigned a mortgage for his "then" wife who are now divorced. The ex-wife now has a full time and steady job with a nice income and no bills.
1. She is listed as "signee" and he is listed as co-signer/co-borrower. The bill comes on both of their names and her name being first and his second.

2. Title is under her name or listed the same as on the loan.

They separated in 01/07 and divorced on 03/08. Husband have always made the mortgage payments (payments drawn from his checking account under his name only) since they first bought the home in 2006 and currently still making the payments.

Listed below is what was written on the divorce decree:

IT IS ORDER, ADJUDGED AND DECREED that (my relative's name) has one (1) year from the date of this Judgement to refinance the matrimonial domicile, to remove (ex-wife's name) from the title of said property and to have as his separate property so that (ex-wife's name) will not be RESPONSIBLE for taxes and obligations attached to said property, and that (my relative) shall transfer title to the car (make/model year), to have as her separate property thereafter.

My question is the following: "What will happen if he stops making the mortgage payments? Will the bank go after the ex-wife since she has a full time job and is the "signee" with a higher income and my relative is the co-signer? What about what the divorce decree said? What are the laws for this state?" My relative is struggling to make the mortgage payment, child support, household bills, plus car note. His income is so much less than the ex-wife. He is seeking public assistance but no such luck!

Let me add that she is currently renting and moved out in January 2007 and never paid a dime towards the home! In a way... he's helping her to build her credit by making those monthly mortgage payments he that he can not afford!

Additional Information:
State of LOUISIANA

Thank you.

[ScottGem]

First, he has the same responsibility to pay as anyone else who signed the loan.

Second, since the divorce decree requires him to refinance, if he doesn't, he would be in violation of the court order.

[marie1920]

Yes, it was helpful! Is there anything that he can do?

[ScottGem]

Refinance and/or sell the house