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REGGIEREJ · Joined: 01 Mar 2010 Posts: 1 1.00 Dollars($)

I co-own a home with my wife. She purchased the home alone and is the sole noteholder with the bank. However, the foreclosure court order request has both of us on the letter.

Will this affect my credit although I'm not on the note?

Thanks

smithsussane · Posted: Mon Mar 01, 2010 9:46 pm Post subject:

Hi REGGIEREJ!

Welcome to forums!

As you co-own the property along with your wife, that's the reason why your name is mentioned in the foreclosure letter. However, if the property is foreclosed upon, then your credit report will not get affected. Your wife is the sole note holder. Her credit score would be lowered and it will be mentioned in her credit report for the next 7 years.

Feel free to ask if you've further queries.

Sussane

Guest

My husbands mother put her home in his name on a quit claim deed but she has a living estate so she can reside in the home til she dies. Even though this was done in 2006 and we were not married til 2008, do I have any rights to this home?

jameshogg · Posted: Tue Mar 02, 2010 10:12 pm Post subject:

Hi Deb,

As your name is not on the property deed, you would not be considered as the owner of the property. Thus, you do not have any rights to that property. You can ask your husband to sign a quit claim deed and add your name to the property deed. This will make you the owner of the property.

Thanks

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