---

What is my responsibility being on a deed and not the mortgage?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
brillboardz Joined: 25 Jun 2009 Posts: 3 1.78 Dollars($)	Posted: Tue Mar 08, 2011 10:16 am    Post subject: What is my responsibility being on a deed and not the mortga Like 0 Dislike 0 I am trying to purchase a new home in my name only. I am married and am not on the loan on the current property which is behind in payments. But I just found out I am on the deed. Can I secure financing in my own name or what can I do? I am trying to get a loan before he goes into foreclosure so I have a place to live. My credit is very good and I have stable income and not much debt. Thanks for your help
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Mar 08, 2011 7:38 pm    Post subject: Like 0 Dislike 0 Hi brillboardz, As your name is not on the mortgage, the foreclosure won't have a negative affect in your credit report. If you wish you can quitclaim the property to your spouse. This will remove your name from the property deed as well. Then you can go ahead and get a new loan to buy a property on your own. Thanks

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0