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What if my wife couldn’t keep up the payments, and now the bank is after me?

Banks don’t like to give up the security of having two people responsible for a mortgage or any loan for that matter. You may be responsible for the payments if you did not have a "hold harmless" clause or provision in your property settlement agreement. If you were held responsible by the bank for the mortgage, this provision would give you the right to collect any monies paid out from your wife. You could sue your wife for your money spent. If she can pay neither you nor the mortgage, the court could order the house sold to pay your losses out of the proceeds.