As executor of an estate,does a foreclosure hurt credit?

hooyah6139 · Joined: 09 Mar 2008 Posts: 1 1.27 Dollars($)

My mother-in-law passed away a year and a half ago. My wife is the executor of the estate on her mother's home. Neither the title nor the mortgage is in our names. If the house forecloses, does it affect our credit? Thanks!

sara

Hi Hooyah,

Welcome to the forums.

Since your wife is the executor, I think the lender will expect her to repay the loan because she is in charge of the estate which includes the mortgaged property. And, if she has to keep the home, then she will have to pay for it. So, if she doesn't pay her credit is likely to get affected.

Take Care

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