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My husband purchased a mobile home before we married. If he let's this mobile home be repossed will it hurt my credit as well. We reside in Texas.

Posted: Fri Jun 17, 2011 2:02 pm Post subject:

If you were not on the loan, then your credit would not be affected. He would have the repo or foreclosure on his credit and will have to wait several years before he could apply for another loan. Could you rent the home out to avoid any losses?

tomburris · Posted: Fri Jun 17, 2011 3:50 pm Post subject:

your credit will not be affected unless the lender goes after the deficiency balance. thn they might try to go after you becase this is a community property state.

ask a real estate attorney

tomburris · Posted: Fri Jun 17, 2011 3:51 pm Post subject:

also.

given that this is a mobile home..... the laws may vary from a real property loan.

mobiles are sometimes considered chattel loans and not real property loans

Posted: Tue Sep 13, 2011 9:10 pm Post subject:

I'm sorry, but you are incorrect.
Yes, Texas is a community property state, but you hold no legal rights nor liability for property that was purchased prior to marriage. All property that is owned, whether it is owned out-right or still has 20 years of payments left, before you are married is considered separate property. Unless both partners in the marriage agree & legally convey the property to you, you will never have any rights or liabilty to the property.
It doesn't matter if the mobile home has been your primary residency for years, it is still considered separate property & would belong solely to your husband if you were to divorce.
Likewise, you are under no financial obligation for the mobile home as it is separate property. There is no way, well, no legal way, for the lenders to "go after you". Nothing regarding this mobile home can be refleted on your credit report either. Please do not let people bully you into thinking you are responsible or will be affected personnally by his previous debt.

Posted: Tue Sep 13, 2011 9:41 pm Post subject: Continued

Texas only considers property that is purchased after you are married to be community property. This applies to mortgages, vehicles, land, retirement investment, and anything else you buy as a married couple. Anything purchased within the marriage is equally owned by both parties whether or not you approved of the purchase or if your name isn't on any of it. It would all be subject to 50/50 division upon divorce.
As with anything, there are a couple of exceptions to the community property laws of Texas. Property obtained by one partner through an inhertitance or gift even during marriage is still considered separate property. There are also provisions in the event of abandonment or a missing spouse, etc.

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