Credit card company’s taking your house.

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Credit card company’s taking your house.

My husband sided a week after we bought our house. I want to take all my assesses and refinance my house so I can get my payment down so I can keep my house. But my husband had a lot of credit card dept. He also put credit cards in my name. What I want to know is before I put this money into my house can the credit card people take my home or put a lean in it. I don’t work at this time my husband was the sole wage earner. The money I have is not enough to pay off the creditors, but would put help me keep my house.

Asked on May 24, 2009 under Real Estate Law, Texas

Answers:

N. K., Member, Iowa and Illinois Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If a credit card company decides to bring legal action against you and they win a judgment against you, they can file a lien against your property. In some cases, they can also instigate a foreclosure on your home.

You should consult a real estate attorney in your state since laws vary from state to state. The attorney may be able to suggest options for you so you can keep your home, or ways to avoid legal actions by the creditors.


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