Posted on: 10th Jul, 2009 12:53 pm
I purchased a house with my husband, we then refinanced but when we refinanced the mortgage company only refinanced under my name. On credit reports the house only shows up under my name, but they informed me his name is still on title. We are now way upside down on our loan I have lost my job and other circumstances, if we happen to foreclose this house (which i hope doesn't happen) will the foreclosure affect his credit also?
mari
Welcoem to the forum
If his name does nto show up on the loan, foreclosure will not show up on his name. It will only affect your credit report and score
Good luck
Welcoem to the forum
If his name does nto show up on the loan, foreclosure will not show up on his name. It will only affect your credit report and score
Good luck
Hi Mari,
If you refinanced the property in your name, the foreclosure will not affect your husband's credit. Since his name is not on the loan, he is no longer responsible for it. Have you talked with your lender regarding how you can stop the foreclosure? You have lost your job and are in a financial crisis. Have you checked whether you qualify for a loan modification?
If you refinanced the property in your name, the foreclosure will not affect your husband's credit. Since his name is not on the loan, he is no longer responsible for it. Have you talked with your lender regarding how you can stop the foreclosure? You have lost your job and are in a financial crisis. Have you checked whether you qualify for a loan modification?