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I am getting divorced and I am on the title for mortgage but not the loan. What happens if the house goes to forclosure?

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Icon Mini Profile lindabramble4





Joined: 22 Apr 2011

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1.28 Dollars($)
Post Posted: Fri Apr 22, 2011 11:36 am    Post subject: I am getting divorced and I am on the title for mortgage but
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My soon to be xhusband has decided not to pay mortgage even though it is court ordered as part of my child support. There is about $ 100,000 in equity is the house. My name is on deed for house and I am living in the house. My name is not on the mortgage. If the house goes to foreclosure , what is my responsibility?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

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Location: Nevada
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Post Posted: Fri Apr 22, 2011 8:27 pm    Post subject:
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Hi lindabramble,

If the property goes into foreclosure, you'll lose the house. But the lender won't be able to come after you for any deficient amount resulting from the sale of the property. Moreover, the foreclosure won't affect your credit scores in any way.

Thanks
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