Posted on: 29th Jul, 2009 09:47 am
My boyfriend and I puchased a condo in 2006 and we split up recently. The place is going into foreclosure and I was wondering if my credit will be ruined. I am on the DEED and NOT on the Mortgage. I just received a letter from the court stating that the property will be up for public sale to the highest bidder. What will happen to my credit now? I did a Quitclaim deed in March of 2008, did I do something wrong?
your credit may be impaired, yes. your post is quite confusing. you are "on the deed" yet you "did a quit claim deed" in 2008. that's a contradiction. did you ever sign the note for this mortgage? if you did, then you're obligated, period (unless the lender absolves you of responsibility).