If my husband and I are on the title of a house but only his name is on the mortgage, in the case of foreclosure will this affect me as well?
Question Details:
Will it be reported on my credit?
It will be reported on your credit, as you will be a defendant in the case as an owner of the house, and judgments on the public record are reported. Transferring the house will do you no good. As a resident, you have to be a defendant too. However, the credit hit is much more on your husband, as it is a defaulted debt, as well as a judgment.
It will be reported on your credit, as you will be a defendant in the case as an owner of the house, and judgments on the public record are reported. Transferring the house will do you no good. As a resident, you have to be a defendant too. However, the credit hit is much more on your husband, as it is a defaulted debt, as well as a judgment.
