Generally speaking, yes. Once married, the debts of each party become the responsibility of both individuals.
Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.
At the moment there are very few investors willing to purchase reverse mortgage loans with a non-borrowing spouse due to the AARP / HUD lawsuit. It's advised that both you and your spouse go on the loan together as the reverse mortgage becomes a balloon payment when the last surviving borrower passes.Some helpful reading on this topic here:Reverse Mortgage with Spouse Under 62 Leaves Vulnerabilityhttp://www.allrmc.com/blog/reverse-mortgage-with-spouse-under-62-leaves-vulnerability
The spouse would only be responsible if they lived in a community property state. Even then it is doubtful the contract would be valid if there were an attempt to collect the debt.
Unless you had mortgage insurance, the surviving borrower is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
Texas is a community property state therefore a surviving spouse usually can be held liable for debts solely incurred by the deceased spouse. Exceptions can be made to this law based upon the circumstances of individual cases
Tennessee is not a community property state, if the surviving spouse was not a joint debtor he or she is not responsible for debt incurred by the decedent. The exeption would be, if there is a home that is encumbered by a mortgage and/or loan the surviving spouse will have to continue the agreement whether he or she was named on the lending contract in order to retain possession of the property.
No
Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.
Alabama is not a community property state, the surviving spouse is not responsible for creditor debt unless he or she was a joint account holder.
No, the spouse is not responsible. However it does come out there assets left behind.
If the person wishes to keep the residence then he or she will need to reaffirm or assume the loan with the mortgage holder. Real property debts such as homes and vehicles are not treated the same as unsecured debts when it relates to the death of the account/property holder.
The spouse indirectly will pay, as they cannot inherit until they are resolved. In Maryland the estate is responsible.
Only if the surviving spouse entered into a repayment agreement with the medical providers.
For Georgia, the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
The estate is responsible for all the bills of the deceased. The spouse will be required to pay them from the estate funds.
The estate will be held responsible. Given that the spouse was a card user, they can also be held responsible if the estate doesn't resolve the issue.
In most instances, the estate is responsible. It means the estate that is inherited from the spouse will be smaller.