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KANDIGIRL1974 · Joined: 27 May 2011 Posts: 1 1.41 Dollars($)

I was on title only to me and my husband home. He is the only borrower on the loan. The home is now in foreclosure with a sale date the end of June. I signed a quit claim deed so that I can take my name off title to purchase a home in my name only. When a title search is performed, will it still show me as once being on that title in any way, shape form or fashion? Or will it come back as me not ever being on title at all? Please help for it's cruntch time!

chrisgummerson · Posted: Fri May 27, 2011 9:23 am Post subject:

You will show up in the chain of title. In community property states, they pull the spouses credit and can see the foreclosure. You might be able to find a lender to help you, depending on your state and actual reporting on credit. have you contacted any lenders yet?

gmakerley · Posted: Fri May 27, 2011 11:17 am Post subject:

Kandi, I have to believe that as an owner of the home originally, you were included on the mortgage deed when the loan was granted.

That being the case, you'll surely be named as a defendant in any foreclosure suit, which will impact you now and in the future.

Posted: Tue May 31, 2011 9:31 am Post subject:

Why should there be any impact on credit rating if NOT on the note and named in suit solely to clear title?

adonis · Posted: Tue May 31, 2011 11:06 pm Post subject:

Hi Guest,

If your name is only on the property deed and not on the mortgage docs, then non-payment of the mortgage dues won't affect your credit in any way.

gmakerley · Posted: Wed Jun 01, 2011 2:43 pm Post subject:

Credit repositories search public records, and those are duly noted on an individual's credit report. A foreclosure action is a public record. Any person named in a foreclosure suit will, subsequently, find that the foreclosure is posted on their credit report. The mortgage that's the brunt of the problem would not be reported, as in this case, when an owner of the home is not a borrower.

In sum, the delinquent mortgage doesn't get reported and doesn't appear on a credit report, but the report would show any public records like a foreclosure (judgments, liens, etc. as well).

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Am I able to purchase a home after signing a quit claim deed?

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