Posted on: 01st Jun, 2006 08:22 am
An investment property that I own because my boyfriend quit claimed me onto the tilte, and doing so removed his name from the title. Now he is defaulting on the mortgage and has told me he will be forecloseing. Since i am not on the mortgage and he is not on the title, what exactly is going to happen, who is going to be liable for any expenses?
Hi,
You are going to lose the home because of the foreclosure and your boyfriend will have serious negative impact on his credit.
You are going to lose the home because of the foreclosure and your boyfriend will have serious negative impact on his credit.
Hi,
Welcome to MortgageFit Forums.
Since you are not on the mortgage so your credit history will not be affected as a result of the foreclosure but, you will lose the property with the lien on it.
However, your boyfriend's credit will be severly hit because of the foreclosure.
Feel free to ask if you have more queries.
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
Since you are not on the mortgage so your credit history will not be affected as a result of the foreclosure but, you will lose the property with the lien on it.
However, your boyfriend's credit will be severly hit because of the foreclosure.
Feel free to ask if you have more queries.
God bless you.
For MortgageFit,
Samantha
