Posted on: 20th Jul, 2010 04:49 pm
A family friend signed over an Orlando, FL house to my dad and then it foreclosed. My dad never signed anything, but his name is now officially on the property that is being sold in Aug. We are not sure what this means for him. Will the foreclosure go on his record? Is he responsible for anything else? What should we do? Thanks!
Hi Amy,
You need to check out whether or not your father's name is mentioned on the mortgage docs. If not, then the foreclosure won't affect your father. It will not affect his credit score. But he would lose the property in the sale.
Thanks
You need to check out whether or not your father's name is mentioned on the mortgage docs. If not, then the foreclosure won't affect your father. It will not affect his credit score. But he would lose the property in the sale.
Thanks