Posted on: 06th Jul, 2009 11:16 am
If my fiancé has foreclosures/tax issues how will it affect me in the future??
Hi Quintanam,
If your name is not mentioned on the mortgage docs i.e if you're not a co-borrower of the mortgage, your fiance's foreclosure or tax issues won't effect you. However, if you're a co-borrower, then a foreclosure will effect you. It will reduce your credit score by 250 points. Moreover, it would remain on your credit report for 7 years.
Thanks
If your name is not mentioned on the mortgage docs i.e if you're not a co-borrower of the mortgage, your fiance's foreclosure or tax issues won't effect you. However, if you're a co-borrower, then a foreclosure will effect you. It will reduce your credit score by 250 points. Moreover, it would remain on your credit report for 7 years.
Thanks
Hi, can anything be done to me legally if I marry my fiancé has several forclosure/tax issues? Can they come after me and take anything from me even though my name is not on any documents?
If your name is not on any of the documents, then the lenders/creditors will not be able to sue you for anything.