If I was married to the man who owned a house, and my name was not on the loan, will it affect my credit to just walk away from the house?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I was married to the man who owned a house, and my name was not on the loan, will it affect my credit to just walk away from the house?
I’ve been living in it, making payments to get my daughter graduated but when she graduates this summer, I don’t wish to stay here. My name is not on the loan and I can’t even sale the house without going through some process to have authority over the account. How would just leaving affect me?
Asked on February 3, 2014 under Estate Planning, North Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
Under the laws of all states in this country so long as you were not legally obligated on the loan for the property that you have written about, if the home falls into foreclosure your credit score will not be impacted.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.