If my exhusband and I are cosigners on a mortgage, and he forecloses, what percentage of the unpaid debt am I responsible for?

On a mortgage which you have cosigned for, just as any other loan document, you are considered jointly and severally liable for that debt. This means is that if there are other cosigners and they are unable to pay the debt, or file bankruptcy, the bank can, do you for 100% of the amount of that mortgage or loan. The bank goes after all signers of the mortgage or loan for 100% of the value of the mortgage or loan. Even if there are two signers, this does not split your responsibility to pay, you are responsible to pay the entire amount of the mortgage or loan. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://massachusettslawyeronline.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob