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interspousal deed

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nguyennamson2000 Joined: 01 Jun 2008 Posts: 1 1.28 Dollars($)	Posted: Sun Jun 01, 2008 9:32 am    Post subject: interspousal deed hello. I live in california, when I buy the house, my wife signed an interspousal deed and now the house go to foreclosure. does it affect my wife or the bank will go after both of us.
Niicss Joined: 03 Oct 2005 Posts: 1047 156.15 Dollars($)	Posted: Sun Jun 01, 2008 11:15 pm    Post subject: Welcome nguyennamson. I feel your wife has singed the intersposal transfer deed to transfer her share of the property to you... right. So you should be only one on the mortgage. So your wife credit will not be affected and the bank will only come after you for the difference… what you owe and the sale price. _________________ Good is the Enemy of Great.
larry Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)	Posted: Mon Jun 02, 2008 11:51 pm    Post subject: Hi nguyennamson. Welcome to the forum. The lender cannot come after your wife and your wife's credit should not be affected as the mortgage and the deed is in your name. You were the only owner after your wife sing off the interspousal deed. So only you will be responsible for the foreclosure and the lender can come after you for the deference. Feel free to ask if you have any further questions. Best of luck, Larry

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