Posted on: 03rd Aug, 2010 12:19 pm
I am so confused with my loan situation. Please help!!!My house is currently on foreclosure process with no sale date set yet. On the mortgage statement and promissory note, it showed my name only with my signature on it. My husband on the other hand is on the title and deed of trust. Now, what confuses me the most is that my husband's name is written on the Final Settlement Statement. Is he also considered as borrower? Will his credit get ruined if my house gets foreclosed on. Thank you very much for your help on this.
Hi lsulistiyo,
You need to check out whether or not your husband's name is mentioned on the mortgage docs. If his name is not mentioned on the mortgage docs, then the foreclosure won't have a negative affect on his credit report.
You need to check out whether or not your husband's name is mentioned on the mortgage docs. If his name is not mentioned on the mortgage docs, then the foreclosure won't have a negative affect on his credit report.
Hi Adonis,
Could you please clarify which one is the mortgage documents? As I mentioned earlier, my husband's name is on Final Settlement Statement, Deed of Trust, and any Title Docs. However, my name is on the mortgage statement and promissory notes. Could you please clarify this? Thank you very much
Could you please clarify which one is the mortgage documents? As I mentioned earlier, my husband's name is on Final Settlement Statement, Deed of Trust, and any Title Docs. However, my name is on the mortgage statement and promissory notes. Could you please clarify this? Thank you very much
As far as I know, Final Settlement Statement, Deed of Trust and promissory notes are a part of your mortgage docs. You can speak to the lender who would be able to let you know who the borrower of the loan is.