2006-07-10 04:38:02 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Nope. It's not considered your debt unless you've signed on the dotted line (or about a billion dotted lines where homebuying is concerned) and your name is listed on the debt.
2006-07-10 04:47:15 · answer #1 · answered by babyskeeter 1 · 0⤊ 0⤋
Good question. If she did not sign the promissory note or mortgage or deed of trust then that is not a part of her personal liablity, even if she is on the deed. Just as you can buy a house "subject to" the existing debt and take over the existing mortgage. The debt does not show up on the deed owners p/l or credit report cause they are not formally responsible for debt.
Good Luck
2006-07-10 04:47:35 · answer #2 · answered by teenriodoll 3 · 0⤊ 0⤋
No, if she is not on the mortgage it is not considered part of her debt. This is why a spouse can sometimes qualify for a rental home when the primary borrower cannot.
2006-07-10 05:04:38 · answer #3 · answered by Veleno45 3 · 0⤊ 0⤋
Well for all legal purposes (and calculationg debt ratios) your income and debts would be combined;
Her name may not appear on the mortgage agreement, but marriage creates a legal partnership - and what binds one partner binds the other.
2006-07-10 04:42:45 · answer #4 · answered by p_rutherford2003 5 · 0⤊ 0⤋
It's still a household expense for her, so I'd say its still considered.
I agree with the guy above me.
2006-07-10 04:43:37 · answer #5 · answered by WiserAngel 6 · 0⤊ 0⤋
no she would have to be on the mortgage note
2006-07-10 04:41:32 · answer #6 · answered by Charlotte 2 · 0⤊ 0⤋