Will my new wife be responsible for my debt

[Palabra]

I'm getting married shortly. Will my new wife become responsible in any way for my debt if I default on my mortgage.

The loan was taken out in 07 in my name only and I am now in negative equity (about 100,000)

 

[iscritto]

She would be homeless if your house is taken back... why are you planning to default ?

 

[horusd]

She would be homeless if your house is taken back... why are you planning to default ?

This is not what the OP asked or suggested iscritto.


OP, I assume your mortgage debt and property are in your name. I cannot see how she could be held responsible for any debt you incurred. I presume she didn't consent to the debt or sign for it. Is there any reason to think otherwise?

 

[JoeB]

This raises a possibility... the bank may be restricted in the future from selling the house in the event of a default if a mother and her children call it a family home. So the bank are disadvantaged in some small way at least.

But no, I don't think the wife could be held responsible for the debts.

Do banks insist on all mortgage holders having insurance to pay in the event of death?, ... and if not what would happen? (and what if it was now a family home?)

 

[Bronte]

She is not liable for the debt when getting married. But if you are going to default it's better to do it now. Because once married, and despite it having nothing to do with your fiancee the banks will play hardball with you if she has an income. Be in no doubt about that.