Can the bank come after my husband if he is on the title but

Hi myranda.

Welcome to the forum.

Your husband is not on the mortgage. So his credit may affect to a certain extant but the lender will not come after him for the deficiency judgment? As you are on the loan you are liable to pay the deficiency judgment. BTW is the mortgage already foreclosed? Have you trued short sale or deed in lieu?

Best of luck,
Larry

The bank can only come after someone who signed a loan contract.

Last year Iwas trying to help my son to buy a house, I used my name for the loan, my son is paying but have many late payments that is affecting my credit. How do I put the loan on his name? or what alternative do I have?
Mario

hello valdo,

your son would have to refinance the mortgage loan in his name only, and you could quitclaim the property to him. if he cannot refinance in his name only, then you will still be "the responsible party" for the loan. and yes, if the payments are late and the loan defaulted on, than yes it will affect your credit.

let us know if you have more questions.

good luck.

Hi again, you mean refinance the mortgage loan with the same lender?

Hi VALDO.

Welcome back.

I agree with Cliff here that your son will have to refinance the mortgage on his name only. He can refinance the mortgage with the present lender and if the present lender cannot help you to refinance then you can also shop for other lenders to refinance the mortgage. But first you should contact with the present lender and find out whether he can help you to refinance.


Feel free to ask if you have any further questions.

Best of luck,
Larry

me and my wife bought a build able lot 2 years ago. we split up but both weer on title. I built a house on the lot myself with my own money. the house is still not finished yet but i found out my wife allowed my son to use the house to get a loan and now its in foreclosure. I never signed anything that allowed them to use the house i paid for to build can they take my home i was never givin any of the loan documents never is my home going to be taken from me and all my money and work lost..

Hi randyw,

Your query has been answered in the given link:
http://www.mortgagefit.com/propertytransfer/title-issue.html

Please take a look. I think it will help you.

Thanks

My husband will be going though foreclosure soon. Can i buy a home using my credit? I have a good job and good cedit. Is this considered buy and bail?

Hi rtgirl,

You can buy a home using your credit and this will not be a problem for you since you have a good credit and a job.

My wife and I bought a home 3 years ago. The loan is in her name only. I am however on the title. I have good credit and make enough money to buy a home on my own. Could i go out and buy a home in my name and then let my current home go to foreclosure? Is this still considered buy and bail even if i was not on the original home loan (only the title).

Hi joe,

As you are on the title and not on the loan, if the property goes into foreclosure your credit score will not get affected,but your name might reflect on the credit report. You can buy a home on your own as you have good credit. But you can also go for a refinance or a loan modification and pay off the existing debt.

Thanks,

Jerry

My husband bought a house before we got married, we live in it for 4 yrs..he had an affair and walked away from the house, i left too...my name is not on the loan or title (smart i guess) can the foreclosure go on my credit report....

Hi cheated on,

If your name is neither on the loan nor on title, you can rest assured your credit will not get affected in case the property is foreclosed on. You are not responsible for either the house or the loan on it.

but not have his name on the title? He has liens from DSHS and we dont want them to be able to take our home but I cannot afford to buy on my income alone.