Posted on: 17th Jul, 2007 09:05 am
Is there a way I can avoid having a foreclosure on my credit if I remove my name from title and mortgage and just keep it in my husband's name?
Hi Hoapili,
You can save your credit and avoid appearance of foreclosure on your credit report if the mortgage can be refinanced in your husband's name. If it is refinanced in his name then even if the house goes into foreclosure your credit will not be affected by it.
Miller
You can save your credit and avoid appearance of foreclosure on your credit report if the mortgage can be refinanced in your husband's name. If it is refinanced in his name then even if the house goes into foreclosure your credit will not be affected by it.
Miller
How many defaults on the mortgage Hoapili? Many lenders won't agree to refinance if the mortgage is in default. But you can still inquire if anybody would be willing to refinance.
If you can get your name off the mortgage then your credit will not be affected by foreclosure.
As others have mentioned refinance is one option to do so but it would be difficult to get any bank to agree to refinance a loan which is in default.
As others have mentioned refinance is one option to do so but it would be difficult to get any bank to agree to refinance a loan which is in default.