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If someone has a house that is in foreclosure and gets married, how is the joint property affected by the foreclosure.
Location: FLORIDA
Please advise.

Thank you

smithsussane · Posted: Thu Nov 13, 2008 7:14 pm Post subject:

Hi Mary Beth!

Welcome to forums!

As far as I know, your name is on the mortgage and on the deed and if the property is foreclosed upon, then your credit will be affected and not your spouse's. If the foreclosure process is completed before marriage and then you acquire a joint property, then I don't think that the lender can place liens on your property.

Feel free to ask if you have further queries.

Sussane

carlpruitt · Posted: Thu Nov 13, 2008 8:23 pm Post subject:

One caveat to that... Sometimes foreclosing lenders, especially second mortgage lenders, go back and get a judgment against the borrower for any deficiency left over after the foreclosure. If your name goes on the title with an undivided interest of any property after that, the lien can be recorded against that property and the lien may possibly show up on the non-defaulting spouse's credit.

Posted: Sat Nov 15, 2008 2:06 pm Post subject:

Can’t really tell the motivation in your question but if you’re asking if any newly created marital rights will delay the foreclosure date and buy you more “free rent”, Google on lis pendens. Don’t think the marriage will extend the sale date.

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