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Guest

My parents' investment house in another state may be foreclosed. They have a couple bank accounts with me listed as the joint account holder here in the state I live, even though their primary residence is not here, I do not use their accounts at all. Will this foreclosure affect my credit? In addition, my own personal bank account is with the same bank that I'm listed on my parents' accounts. Will their mortgage bank in the other state go after my assets here?
Please advise! Thank you!

gordonsands · Joined: 29 Jul 2010 Posts: 1 1.11 Dollars($)

Which state is the property in?

jameshogg · Posted: Fri Jul 30, 2010 2:12 am Post subject:

Hi Guest,

If your name is not mentioned in the mortgage docs, the foreclosure on your parents' property will not affect your credit in any way. Also, the lender will not be able to come after your personal accounts to recover his dues.

Thanks

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Will my parents foreclosure in another state affect me