Posted on: 07th Mar, 2009 07:14 am
My husband is buying a house. The mortgage and loan will be in his name and his name only. I have bad credit and still owe money to creditors. So my question is, would it affect him or the house if he puts my name on the deed? Can the creditors find out and take action against it if my name is on the deed?
Hi angelusia,
Since you still owe money to creditors, it's better not to put the title of the property in your name. If the creditors find that out they can take action against you and may place lien on the property. For the time being, let the title be in his name only and once the creditors are paid off you can have your husband add you to the title through a quitclaim deed.
Thanks,
Jerry
Since you still owe money to creditors, it's better not to put the title of the property in your name. If the creditors find that out they can take action against you and may place lien on the property. For the time being, let the title be in his name only and once the creditors are paid off you can have your husband add you to the title through a quitclaim deed.
Thanks,
Jerry