Will I be responsible for the loan of my fiancée?

My fiancée is divorced. My fiancée and his ex-wife had taken out a mortgage loan several years back. His ex-wife has agreed to make payments on the mortgage loan. Actually, the loan was taken out by his ex-wife only. He was just the co-signer of the loan. We will be married in April 2012. I want to know that if his ex-wife defaults on the loan after our marriage, then will I be responsible for the loan in any way? By the way, I have just purchased a new house. Will it have any effect on my house?

2 Answers

Your soon to be husband will still be responsible for the loan. If his ex-wife defaults on the loan, then the creditors will come after your soon to be husband for the loan. Your house will not be affected unless you retitle it as joint property, 

Nope, you won’t be responsible for the loan in any way. It will not have any effect on your house.

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