Posted: Sat May 09, 2009 11:21 am Post subject: Effects of foreclosure. Please help me!!!!!!!!!!
I am in desperate suitation. I live in california. My husband is not paying the mortgage and every month is asking me to pay the mortgage . I have been doing for an year. I am paying all the bills. I told him I want an divorce. He is threatening if I ask for an divorce he is letting the house to go into foreclosure. My name is not in mortgage or title. We bought the house after getting married as his sole property. If he let it go to foreclosure ..Can I rent the apartments ? Can I buy the house in the future ? If I buy the small place before his foreclosure is lenders coming back of me for my house since I bought the house while we were married. Please help..I am going mad thinking every day that whether I will place or not?
If your name is not on the Mortage it should nto affect you in any way.
But if you are plannign to divorce, it may affect your score. So plan to buy your new house or rent before you go thorugh divorce process.
Your name is not on the mortgage or on the property. Thus, the lenders won't be able to sue you if the property goes into foreclosure. As California is a community property state, it would be better if you could purchase your own property after your divorce.
As far as renting an apartment is concerned, you can definitely do it though your current property goes into foreclosure.
anureddy Guest
Posted: Sun May 10, 2009 11:20 am Post subject: thanks
thanks for the responses. you guys helped me a lot. thanks
You're most welcome anureddy For further queries regarding mortgage of other financial issues...feel free to post in the forum. The experts/members participating here would try to help you. _________________ Procrastination is the enemy of your financial sucess
anureddy007
For further queries regarding mortgage of other financial issues...feel free to post in the forum. The experts/members participating here would try to help you.
