Posted on: 22nd Apr, 2011 11:36 am
My soon to be xhusband has decided not to pay mortgage even though it is court ordered as part of my child support. There is about $ 100,000 in equity is the house. My name is on deed for house and I am living in the house. My name is not on the mortgage. If the house goes to foreclosure , what is my responsibility?
Hi lindabramble,
If the property goes into foreclosure, you'll lose the house. But the lender won't be able to come after you for any deficient amount resulting from the sale of the property. Moreover, the foreclosure won't affect your credit scores in any way.
Thanks
If the property goes into foreclosure, you'll lose the house. But the lender won't be able to come after you for any deficient amount resulting from the sale of the property. Moreover, the foreclosure won't affect your credit scores in any way.
Thanks