Posted on: 28th Jun, 2010 05:58 pm
I have a property to my name that I'm paid regularly and the other is the name of my ex-husband which I can not take over and unfortunately will have to go floreclosure this affect my mortagage the house where I live?
Hi mibetty!
Welcome to forums!
The property that goes into foreclosure won't affect the mortgage of your other property. However, after the foreclosure, you and your ex-husband will have to pay off the balance dues resulting from the sale. If you are unable to pay the dues, then the lender can place a lien on your property where you live now.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The property that goes into foreclosure won't affect the mortgage of your other property. However, after the foreclosure, you and your ex-husband will have to pay off the balance dues resulting from the sale. If you are unable to pay the dues, then the lender can place a lien on your property where you live now.
Feel free to ask if you've further queries.
Sussane