Re: foreclosure??
Posted by ucmahelp on November 15, 2007 at 19:19:41:
In Reply to: foreclosure??
Posted by heidih on November 15, 2007 at 12:56:39:
With both people on title and only one of you on the mortgage, as mortgagor, only the mortgagor's credit is affected. Only the mortgagor is liable for the mortgage debt, therefore the other owner's credit is not effected by the mortgage default because the other owner is not liable for the mortgage debt. There will be documents sent to the household with both you and your soon to be ex husband's names on it/them, but if you are not on the mortgage, as a mortgagor, you are not liable for the debt. Hope this helps - good luck.
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