Legal Question in Real Estate Law in Illinois

My wife and I were recently married. Two years prior to our marriage she had purchased a home. We have decieded to live in the home that I own. She has placed the house on the market but has had no luck selling it. At this point and because of her loss of income, we are considering either a short sale or a forclousure on it.

My question is since the house was purchased by her prior to the marriage and all utilities are in her name will a short sale or foreclousre effect my credit or will be under her credit only?


Asked on 5/22/11, 11:21 am

1 Answer from Attorneys

It should not have an effect on your credit.

Read more
Answered on 5/22/11, 11:46 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois