Marrying someone going through foreclosure

[rutgersgal]

What is the name of your state (only U.S. law)? New Jersey

I am about to get married to someone who is in the last stages of foreclosure on his home. I am afraid that the bank will sue him for the difference he owes and come after my assets which are money in a savings account and mutual fund. Would the mortgage company be able to come after that money?

 

[xylene]

You may consider to talk with a lawyer and a financial planner before you finalize your marriage.

What would be the harm in a short delay and small investment in professional guidance?

 

[adjusterjack]

What is the name of your state (only U.S. law)? New Jersey

I am about to get married to someone who is in the last stages of foreclosure on his home. I am afraid that the bank will sue him for the difference he owes and come after my assets which are money in a savings account and mutual fund. Would the mortgage company be able to come after that money?

Probably not, unless you commingle it.

Read the following about deficiency judgments in New Jersey:

http://www.answers.com/Q/Is_New_Jersey_a_deficiency_judgment_state

Then you both should see a lawyer and learn how not to put your money at risk. Pay a little now or lose a lot later if you get it wrong.