Question : How does foreclosure or short sale affect someone only listed on title of home?
I need to know if a foreclosure or short sale will affect my spouse's credit. I am the only borrower on our mortgage loan. We are both on the title of the home. Will a foreclosure or short sale show up on his credit report since he is on the title of the property?? Again, he is not a borrower on the loan. Thx for any help!!
- asked by
All Answers:
Answer #1
Well because you are linked by marriage, it willaffect his credit to a point. Not as bad asyours, but it will take a hit. My husband camefrom a different country and has a pretty goodscore with nothing in his name, and my credit isexcellent.... he is linked to mine therefore agood rating.
- answered by Snick
Answer #2
Since he is not on the loan, it will not directlyaffect his credit. But he will be guilty byassociation
- answered by Jim Thorpe
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