Posted on: 02nd Jun, 2010 11:54 am
Hello,
I am getting married in 6 months. My fiance is looking into a short sale, but that also risks foreclosure. Can anyone tell me how this affects me if this happens after we are married? My name is on nothing. I would buy a future home on my own, my name (credit) only.
Thanks
Susan in MN
I am getting married in 6 months. My fiance is looking into a short sale, but that also risks foreclosure. Can anyone tell me how this affects me if this happens after we are married? My name is on nothing. I would buy a future home on my own, my name (credit) only.
Thanks
Susan in MN
Hi Susanna,
As your name is not on the property or on the mortgage, your fiancée's short sale or foreclosure will not affect you in any way. It will affect your fiancée's credit score and report. You will be able to get a loan in your name depending upon your credit and income.
As your name is not on the property or on the mortgage, your fiancée's short sale or foreclosure will not affect you in any way. It will affect your fiancée's credit score and report. You will be able to get a loan in your name depending upon your credit and income.
if your name isn't on the note then you have nothing to worry about. Your credit wont be affected