Posted on: 04th Aug, 2011 06:11 pm
My daughter is on the deed to my home, it was great at the time when I had lots of equity in my home. I am now underwater as so many others that my "future" money for her is gone. I do not want to have her saddled with a home worth nothing now. If I had to short sale or forclose on this house I do not want to hurt her credit. Would this protect her or has this housing market claimed another victim?
Hi Guest,
If your daughter's name is not mentioned on the mortgage docs, then the short sale or the foreclosure won't affect her credit. If your name is on the mortgage, then your credit will be badly affected.
Thanks
If your daughter's name is not mentioned on the mortgage docs, then the short sale or the foreclosure won't affect her credit. If your name is on the mortgage, then your credit will be badly affected.
Thanks