Posted on: 22nd Sep, 2010 03:46 am
My husband acquired several rental properties and due to numerous factors he had to walk away from two of the properties. They are currently under foreclosure and are in the process of going to court. My concern may be unwarranted, but I can't help but to worry. The two mortgages were not in my name but all the mail that comes to the house has my name included. Will this affect my credit as well and what should my husband expect could happen after lawsuit? Also, the home that we have together is in both of our names, could our home be at risk? Please help!
Welcome Guest,
If the mortgage doc does not include your name, then the foreclosure of the property won't affect your credit score or credit report. If the mortgage is solely in the name of your husband, then he will be liable for the balance dues and his credit will be affected.
If the mortgage doc does not include your name, then the foreclosure of the property won't affect your credit score or credit report. If the mortgage is solely in the name of your husband, then he will be liable for the balance dues and his credit will be affected.