Posted on: 23rd Apr, 2009 08:19 pm
We are married couple living in fla last 5 yrs.
My wife is on both our 1st morgage and the 2nd "line of credit". I am only listed on the Title as ""tenants by the entirety""
If she decide to stop making payment to get the lender to modifity the mortgage or even walk away from our home since its underwater over 200k
Does it effect my credit rating???
I would then turn around sell me business up north and purchase another home with the funds and place everything under my name. Is this possible since I am not on the current loans however I am listed on title .
Please advice
Thanks
My wife is on both our 1st morgage and the 2nd "line of credit". I am only listed on the Title as ""tenants by the entirety""
If she decide to stop making payment to get the lender to modifity the mortgage or even walk away from our home since its underwater over 200k
Does it effect my credit rating???
I would then turn around sell me business up north and purchase another home with the funds and place everything under my name. Is this possible since I am not on the current loans however I am listed on title .
Please advice
Thanks
Hi genestoneybrook,
This issue has been discussed on the following page:
http://www.mortgagefit.com/credit/effect-tenancyentirety.html#90499
This issue has been discussed on the following page:
http://www.mortgagefit.com/credit/effect-tenancyentirety.html#90499