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alawal_sheikh · Joined: 30 Oct 2009 Posts: 1 1.00 Dollars($)

Hey..
We got married two years ago, we both own two different houses before we got married. My wife stop paying her mortgage right before we got married and proceeded with short sale which she is unsuccessful.....now my question is: I am not on the deed or her house nor on mortgage. We don't have joint bank account but we do filed last 2 years of tax return together. If she end up in foreclosure(Which we know the consequence for her record) would it hurt me in any way (We live in NY State, I own a house, I have some savings in the bank also I am worried about my credit score). In the near future i am thinking of buying house or openings a business which might need to apply for loan……please
advice

gmakerley · Posted: Fri Oct 30, 2009 2:39 pm Post subject:

i don't have any expertise in new york law, but then again only a lawyer would possess that (call one!).

here's my take, anyway. if you are not an owner of a home that goes into foreclosure, you ought not to be held liable for that situation. that you are married to said owner wouldn't seem to bear relevance.

again, call a lawyer if you want the straight scoop.

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Foreclosure in NY