Posted on: 02nd Jan, 2010 07:28 am
I live in NY. My name is on my mother's home's "deed" not on the mortgage or note. She is trying to sell the home and may consider trying to make it a "short sale". How would this if at all affect my credit? My husband and I want to buy our first home soon and will be shopping for a mortgage. We we need to include any of this info in an application?
If she want to sell home, she must have to take your signature as a no objection for sale house. It will not effects your credit score cause of your name is not on mortgage. You not need to involve this details in new loan application.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
I would ask a real estate attorney in NY
Some lenders will go after the borrower if there is a large sum lost in the short sale and may come after all the owners.
Some lenders will go after the borrower if there is a large sum lost in the short sale and may come after all the owners.
