Posted on: 19th Jul, 2010 01:46 pm
My Father and I are the borrowers on our Mortgage. My Wife and Mother have signed as the grantor. If we go into foreclosure...will this impact my wifes and Mothers credit score?
A grantor is a person who transfers his or her share of the property to someone else. If your wife and mother have transferred the property to you and your father, then their credit will not be affected if the property goes into foreclosure.