Fiance owns a home that has been for sale w/ a reputable realtor for over a year. I own a home-in my name only. If house doesn't sell in another 6 months, he's going to have to foreclose. We will be married by then. If we have seperate bank accounts and my home is in my name only, as a result of the foreclosure, can his mortgage lender put a lien on my house or do anything to my bank accounts? Thank you.
2007-09-19 14:35:44 · 2 answers · asked by Ohio Girl 2 in Business & Finance ➔ Renting & Real Estate
I live in Ohio.
2007-09-19 16:52:45 · update #1
As long as you are not in a community property state, things in your name only are yours and things in his name are his. The lender can't come after your separate property.
2007-09-19 14:43:52 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
Once you are married the property becomes joint. If you are married and the house is foreclosed then you will both have to have it on your credit. Sorry. What state are you in?? That will have a lot to do with it. If you are in a state that looks at the both of you, like NJ then it will hurt you, if not then you will be on your own.
2007-09-19 21:45:14 · answer #2 · answered by gumie23 2 · 0⤊ 0⤋