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How will my wife foreclosing on her first home affect me since we live in a community property state? I am not on her loans.

Vancouver, WA |

My wife bought her first home(condo) before we met. Now she can't sell it for what she owes on it. She also can't rent it for enough to cover her mortgage.
How long will it affect her credit, and ability to buy a home?
Will it affect my credit even though she bought it before we met?

If she forecloses, can she be sued by the lender for the difference of what they are able to eventually sell it for?

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Attorney answers 1


The length of time a disposition will affect her depends on what course of action she chooses. Bankruptcy, for example, lasts 7 or more years. As to whether it will affect you... The creditors should not be able to go after you, your income, or your separate property to settle this. They can go after her income and her half of community property. That might affect you directly. Does it affect your credit? Perhaps not directly but if her score drops to 436 and you apply for joint credit then you are affected.