Posted on: 21st Mar, 2009 11:05 am
will my creditbe affected if my husband does a deed in lieu? I am not on the mortgage, but I am on...My husband is in foreclosure, and is thinking about doing a deed in lieu if the bank approves. Will this affect my credit at all. I am not on the mortgage just the title.
Welcome rlehman,
As your name is not on the mortgage, your credit score will not be affected if your husband goes for a deed in lieu. Your husband's credit score will be lowered by 250 points in this case.
As your name is not on the mortgage, your credit score will not be affected if your husband goes for a deed in lieu. Your husband's credit score will be lowered by 250 points in this case.