Will foreclosure affect spouse's credit if individual my baptize is on the action and mortgage loan?
i may foreclose on a house in CA that was purchased surrounded by my name a few years ago. will this affect my husband's credit? we were married afterwards and still are now.
Answers:
NO. It is the biggest myth out there regarding credit. I own worked with credit for many years. It with the sole purpose effects you. Sorry you are losing your home... good luck!
I worked many years within the credit industry, and this is a relatively common question. Fortunately for you, the answer is NO.
The foreclosure can simply impact the credit of the one who signed the form. As long as your husband didn't sign, co-sign, act as guarantor then this can not affect his credit. Even if he be contributing with part of his take-home pay to the rent, the answer is still NO.
Think a few years back...Donald Trump went in debt, while Ivana had millions. (OK..they were divorced or getting divorced later...but the principle is the same)
No, it won't affect him. He is not the debtor, you are. Best of luck to you both! Source(s): retired realtor
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Answers:
NO. It is the biggest myth out there regarding credit. I own worked with credit for many years. It with the sole purpose effects you. Sorry you are losing your home... good luck!
I worked many years within the credit industry, and this is a relatively common question. Fortunately for you, the answer is NO.
The foreclosure can simply impact the credit of the one who signed the form. As long as your husband didn't sign, co-sign, act as guarantor then this can not affect his credit. Even if he be contributing with part of his take-home pay to the rent, the answer is still NO.
Think a few years back...Donald Trump went in debt, while Ivana had millions. (OK..they were divorced or getting divorced later...but the principle is the same)
No, it won't affect him. He is not the debtor, you are. Best of luck to you both! Source(s): retired realtor
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