Posted on: 11th Jun, 2010 10:14 am
Husband and I recently separated, both names are on the house,I know longer have any interest in the property, he claims he can not afford to maintain it alone, and plans to let it go into foreclosure what can I do to avoid this from going on my credit report. I moved out of state .what can I do to take my name off the property. also to avoid any lein on the property
Welcome Edith,
You can sign a quit claim deed and transfer the property to your husband. However, if your name is on the mortgage, then the transfer of the property won't help you. The foreclosure will hamper your credit score and you could be held liable for the balance loan dues.
You can sign a quit claim deed and transfer the property to your husband. However, if your name is on the mortgage, then the transfer of the property won't help you. The foreclosure will hamper your credit score and you could be held liable for the balance loan dues.