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Joint Tenancy Deed - Credit

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Post Posted: Wed Mar 24, 2010 10:59 pm    Post subject: Joint Tenancy Deed - Credit
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My husband did not sign the mortgage, however he signed a joint tenancy deed. Will his credit be impacted if we forclose on the home? We live in Arizona
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Post Posted: Fri Mar 26, 2010 2:09 pm    Post subject:
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Hi There;

If your husband is not on the mortgage, the fact that he was on the deed should not cause any harm to his credit in the case of foreclosure.

I'm not sure of your state laws, but many states require both husband and wife to be on the deed with right of ownership for each in case of death or divorce.

Hope this helps.

Regards,

Jeff

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