Assume the following scenario: Ralph Camden purchases a residential investment property while single, and obtains mortgage financing to fund the purchase price. The property deed is in Ralph’s name only, as is the mortgage and promissory note that Ralph signed in favor of the bank. A few years later Ralph marries Alice. Despite Ralph’s many promises that he’ll send Alice “to the moon,” or at least move out of their tiny apartment in Brooklyn, Ralph never adds Alice’s name to the deed and they never occupy the property as their marital residence.

Ralph and Alice are unable to maintain the mortgage payments on this investment property. Alice pleads with Ralph to sell the property, but Ralph is too stubborn and lets the mortgage default. The bank files a foreclosure suit naming both Ralph and Alice as defendants. Alice had perfect credit when she married Ralph. Now Alice is concerned that her credit may be damaged.

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