Legal Question in Real Estate Law in California

If you are not on the mortgage, there will not be a foreclosure on your credit history. Note, though, that, if you want to rely on your husband's credit and/or income to buy another property, the foreclosure can affect your ability to get financing.

After a period of manic lending, during which almost anyone could get a loan on almost anything, the residential lending industry is now uptight and rule-conscious. Not all lenders are the same or have similar policies, but as a whole they are looking for crabs under all the rocks and have long lists of reasons for rejecting borrowers.

Among other things, the financial affairs of married persons are closely linked in a community-property state like California. Lenders know this, and so do credit bureaus. So, I cannot be entirely sure that the foreclosure you describe won't affect your credit score. In addition, during the loan-application process (I'm assuming you'd be borrowing, not paying cash), your marital status will come up, and this would likely lead to other questions or research in which the foreclosure would come to light.

So, I think you should be prepared to cope with some questions and perhaps some difficulties. If the foreclosure truly doesn't affect your income or personal liabilities, as it may not, proper explanations and good personal financials should get you approval with many lenders, perhaps not all.