If my boyfriend and I want to get married but his ex has not refinanced the house they had together, if she were to default on the loan would it hurt my credit as well as his?

Asked on January 19, 2013 under Family Law, Maine


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

It would not directly hurt your credit, if you are not a party to the loan. It will indirectly hurt you, however; when people are married, if they look for  a major  purchase or loan (e.g. to buy a car; to buy a house or refinance a mortgage), lenders, sellers, etc. will look at the credit of *both* of them, based on the reasonable and realistic view that if one spouse is a credit risk, that may impair the ability of the family as a whole to pay, since the credit risk spouse might incur additional liabilites, default on debts, manage money poorly, etc. Therefore, while your personal credit score will not be affected by a default if  you're not on the loan, if you are married  to someone with damaged credit, that will have implications  for you.

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