Is the non-borrowing spouse obligated to pay the loan?

due to credit issues, I frequently see the spouse HAS to be on the note, but not the deed....in the end, if their credit is that bad, when it goes south, I doubt they will have the money, if if they did sign that note!

Hmm. Interesting. I don't usually get asked that question. But in Florida, because of the "Homestead" laws, spouses always have to sign the closing documents, even if they aren't both on the note. Even if one spouse owned the home, before they got married, they both have to sign the closing documents. The reason is to prevent a spouse from selling the home out from under the other one.

OMG!  Leon, and others, this isnt against you by any means, you did a nice job of pointing this out, but reread this sentence "Any borrower who co-signs the Security Instrument, but does not execute the Note.........

Im sure they have their reasons, which would be interesting to hear, but the sentence contradicts itself, IMO.

How could they be a borrower if they arent borrowing the money, lol.  No wonder people are confused.

I was told from a closing agent in Wisconsin this statement on why a non-borrowing spouse signs the Security Instrument and other legals:  "Purpose is to have NBS permit their interest in the property to be subject to the lien of the mortgage"  For Wisconsin, we are a marital property state and the spouse is required to sign the mortgage, unless its an investment property.  And this can depend on Title Company and/or Lender.  Sometimes they require the spouse to sign on investment document legals even if they arent required to.

They aren't obligated to pay the Note, but, if foreclosed due to non-payment, that NBS still loses the home.