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foreclosure

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annie Guest 0.10 Dollars($)	Posted: Tue Jun 10, 2008 10:35 am    Post subject: foreclosure my house is heading for forclosure but my name is not on the mortgage only on the deed. will this effect my credit? Do I need to sign a quitclaim deed before forclosure/ _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
laphillips Community Experts Joined: 10 May 2008 Posts: 134 Location: Yucaipa, CA 33.92 Dollars($)	Posted: Tue Jun 10, 2008 4:20 pm    Post subject: foreclosure Hello Annie, If you are not signed on the loan then your credit should not be affected BUT remember your house is security for that loan! _________________ Lynnette Phillips Loan Officer/Realtor, Foreclosure Consultant Home Pride Mortgage My Blog: http://activerain.com/helpingufindaway My website: http://lynnettephillips.com **This is not intended as legal advice. I am not an attorney.**
smckaybiz Community Experts Joined: 24 Apr 2008 Posts: 106 Location: PA 11.22 Dollars($)	Posted: Tue Jun 10, 2008 5:07 pm    Post subject: I would be very cautious about this if I were you. Just because the lender is threatening to foreclose it doesn't mean that they are going to. One thing to beware of is if your escrow is included in your mortgage than the taxes will end up going unpaid and that can end up with a tax lien showing on your credit as long as its titled in your name. _________________ Scott McKay DiYCreditGuide.com

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