If my husband and I areon the title of a house but only his name ison the mortgage, in the case of foreclosure will this affect me as well?
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If my husband and I areon the title of a house but only his name ison the mortgage, in the case of foreclosure will this affect me as well?
Will it be reported on my credit?
Asked on December 3, 2011 under Real Estate Law, Utah
Answers:
Michael D. Siegel / Siegel & Siegel, P.C.
Answered 12 years ago | Contributor
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.
Michael D. Siegel / Siegel & Siegel, P.C.
Answered 12 years ago | Contributor
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.
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