Legal Question in Real Estate Law in Ohio

Forclosure/Short Sale

My husband is not on my mortgage, nor does the mortgage show up on his credit report. He is, however, on the deed to the house as a courtesy. The market has killed our housing market and we may have to do a short sale on our house in Ohio. Will this short sale show up on his credit report?


Asked on 10/14/08, 9:30 am

1 Answer from Attorneys
Elizabeth Schmitz Elizabeth S. Schmitz Attorney at Law

Re: Forclosure/Short Sale

Based on the facts you provided if your husband is liable for the mortgage it should not show up on his credit report. However, credit reports often contain inaccruate information and it is very possible that this could be reported to the credit reporting agencies since the house was in his name. Once it is on his credit report it is hard to get it off.

I would talk to an attorney to make sure that you have taken all steps to avoid any complications in the short sale and also make sure you understand any possible tax consequences.

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Answered on 10/15/08, 8:23 am


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