Posted on: 26th Jul, 2008 06:24 pm
My spuuse purchased property after we were separated, I am not on the loan, but am on the mortgage
My spouse is defaulting on his loan, I didn't sign the loan papers .but Florida Homestead act requires the spouse to be on the mortgage. Now he is defaulting on this loan, will I be involved if it goes into foreclosure. this loan doesn't have my name on it & doesn't show up on my credit file.
My spouse is defaulting on his loan, I didn't sign the loan papers .but Florida Homestead act requires the spouse to be on the mortgage. Now he is defaulting on this loan, will I be involved if it goes into foreclosure. this loan doesn't have my name on it & doesn't show up on my credit file.
You will be involved if your name is on title because the lender is taking back something that you have ownership in... however it should not go onto your credit since you are not on the mortgage itself.