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If name is only on deed not on the mortgage or note, how will a short sale of this property affect my credit?

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treeshalee Joined: 02 Jan 2010 Posts: 1 1.32 Dollars($)	Posted: Sat Jan 02, 2010 8:28 am    Post subject: If name is only on deed not on the mortgage or note, how wil Like 0 Dislike 0 I live in NY. My name is on my mother's home's "deed" not on the mortgage or note. She is trying to sell the home and may consider trying to make it a "short sale". How would this if at all affect my credit? My husband and I want to buy our first home soon and will be shopping for a mortgage. We we need to include any of this info in an application?
gunzijjistaff Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)	Posted: Sat Jan 02, 2010 8:56 am    Post subject: Like 0 Dislike 0 If she want to sell home, she must have to take your signature as a no objection for sale house. It will not effects your credit score cause of your name is not on mortgage. You not need to involve this details in new loan application. Thanks & Regards. gunz.ijjistaff
banker0679 Community Expert Joined: 15 Nov 2007 Posts: 452 Location: Charlotte, North Carolina 19.27 Dollars($)	Posted: Fri Jan 22, 2010 9:31 pm    Post subject: Like 0 Dislike 0 I would ask a real estate attorney in NY Some lenders will go after the borrower if there is a large sum lost in the short sale and may come after all the owners. _________________ there's always hope! "My credit score shot up 68 points!"

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