Posted on: 03rd Mar, 2009 01:22 pm
hello we bought a home 3 years ago, qualified on wifes income alone, she is the only one to sign note,,,husband got hurt lost job,, cant pay mtg...now in foreclosure...can they foreclosue on him if he did not sign note,,,or does he own an undivided 1/2 interest in the property...thank u gary
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Hi gippy!
Welcome to forums!
If the husband's name is not on the mortgage docs, a foreclosure will not affect his credit. Moreover, the lender will not be able to sue the husband for any mortgage dues. However, if the husband wants to save the property, then he can pay off the dues.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If the husband's name is not on the mortgage docs, a foreclosure will not affect his credit. Moreover, the lender will not be able to sue the husband for any mortgage dues. However, if the husband wants to save the property, then he can pay off the dues.
Feel free to ask if you have further queries.
Sussane