Hi All,

I just want to note that Brian posted some additional information about this at the link below.

Best Wishes,

Emily Gibson
Customer Service Representative

Brian
You have some very good answers.
1. Consult an attorney immediately
2. Consult a marriage counselor or a pastor immediately too. Bailing out of a marriage that is not working may seem like the best solution, however I encourage you to try to work it out.

3. You are still legally liable, from what you've posted. Protect your credit. It's not the lender's fault that you and your spouse are having problems...

I hope you can take some time to give reconciliation a shot.

Brian,
I am sorry to hear about your problem. So many times couples ruin their credit when they are splitting up! Make sure the payments stay current. Do whatever you can. I benefits both of you to protect your credit. Call your lender and let them know what is going on. If you plan to sell, they will want and should have details. I hope you are able to sell quickly. Pricing will be a factor.

Carrie Crowell
Keller Williams Realty
Baton Rouge, LA

Hello Brain Steffey. While your responsibility to the bank does not change as a result of the breakup, the financial responsibility between the two of you does. Before the breakup, you both lived in the house and you probably did not think about who paid for what. Now, the spouse that is still in the house is most likely responsible to contribute the amount of the fair rental value of the house. If the rental value is less than the monthly house payment, then it would appear fair that the spouses split the difference. If you can't come to an agreement with your spouse about making payments while the property is on the market, talk to your lender. The thing is that you and your spouse will both benefit from keeping up the payments as not doing so would affect both your credits (assuming both your names are on the loan).
You should discuss this with your attorney.

If you and your spouse are on title and signed the note and deed of trust you are both responsible for keeping the payment current. If you are unable to keep your loan current you need to connect your lender to make some temporary arrangements till the home is sold.

Call your lender and have an open and honest conversation. They may be able to come up with a plan to help you until you get your home sold. Don't be afraid to ask for a supervisor and work your way up the food chain if you do not get immediate satisfaction. Good luck.