Legal Question in Real Estate Law in California
I have owned a condo since 2004 in southern California and the title is only in my name. Due to complicated circumstances, I may need to foreclose on it. I am getting married in April--will the foreclosure affect my future husband's credit? Obviously the long process will occur after we are married. We are living in upstate NY right now-- does the state we live in have any bearing on whether or not the foreclosure will impact his credit?
3 Answers from Attorneys
I think you mean that the bank is foing to foreclose on the condo. The foreclosure is determined by the law of the state the property sits in, not New York.
The foreclosure will impact your credit, not his.
The inner workings of a credit-reporting agency are private and mysterious, but ordinarily if the loan is not in his name the foreclosure should not affect his credit.
It will not affect his credit directly, but it will affect anything you try to do jointly.
Related Questions & Answers
-
My home has been without heat for one year.Can i sue landlord ? Asked 2/02/11, 1:04 pm in United States California Real Estate and Real Property
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
