If it will, can I take her off title to avoid hurting her credit?
2007-06-26 09:13:46 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Foreclosure will only be represented on the credit report of the mortgage holder. Title status won't effect it.
Bigger question you might want to run by an atty; how is she in title but not on a loan that is being forclosed? (unless you did a deed of gift after the mortgage) The mortgage company may not have the right to forclose on her interest; you might want to check depending on the deed tenancy and state.
2007-06-26 09:20:14 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
No, the foreclosure only affects the person who is responsible for the credit part of the purchase/ownership.
It should not affect her credit file at all.
2007-06-26 16:18:36 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
No, since her name is not on the loan it will have no affect on her, only you.
2007-06-26 16:19:40 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋