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What will happen if my husband defaults on his mortgage?

Minneapolis, MN |

My husband has a mortgage with a woman from a previous relationship. I am not on the mortgage or the deed. If he defaults, will that affect MY credit. If so, how?

Attorney Answers 3

Posted

It should not affect your credit unless you and he have joint accounts. Even then, it will not have a large impact. Especially today, mortgage defaults are viewed with less critical eyes.

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.

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Posted

It should not impact your credit, but you should still be careful. If a judgment is entered and you have joint accounts, the mortgage company could try to garnish funds in the accounts. In other words, you should be more worried about collection than the credit issue.

If you have any other questions, please feel free to contact me. www.cameronkellylaw.com

Mark as helpful

Posted

It should not impact your credit, but you should still be careful. If a judgment is entered and you have joint accounts, the mortgage company could try to garnish funds in the accounts. In other words, you should be more worried about collection than the credit issue.

If you have any other questions, please feel free to contact me. www.cameronkellylaw.com

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