Posted on: 10th Aug, 2010 08:25 am
We currently own a home that we can't afford anymore. I am the only one on the mortgage loan, but he is on the title to the house. Would a forcloure affect his credit rating being as he is not on the loan? We live in Michigan...
We are current on our payments as of right now, and I do have a good credit score as we speak (over 700).
We are current on our payments as of right now, and I do have a good credit score as we speak (over 700).
Hi aruthenb,
As your husband's name is not mentioned on the mortgage, his credit score won't get affected if you let the lender foreclose the property.
Thanks
As your husband's name is not mentioned on the mortgage, his credit score won't get affected if you let the lender foreclose the property.
Thanks