My question involves a foreclosure in the State of: MN
My wife and I live in a home that she purchased in 2005 before we married. She has two seperate loans, one for about $220,000 and another for about $40,000. Both loans are with the same lender and are the orignial loans for the home. I am not on any of the paperwork for the mortgage. A 4/08 appraisal valued the home at $220,000, I dont even want to know how much it has gone down since. I am fairly certain they cannot hold me accountable for the loan and am considering buying another home only in my name. Can they obtain a deficiency judgement and come after her for the balance? Could they come after a house that I purchase now that we are married? Who should I seek out for professional advice? Do I see a bankruptcy lawyer or some other type of lawyer?