Legal Question in Real Estate Law in Maine

Credit score

My wife and I own a home. I am the only one on the mortgage. If I forclose on the home, will her credit be affected?


Asked on 1/16/09, 8:36 am

1 Answer from Attorneys
Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Re: Credit score

I am not sure. She is not a borrower on the note so she was not advanced credit and it should not affect her in that sense directly. However, she will be a named defendant in a foreclosure proceeding if she signed the mortgage to secure the note, and credit reporting agencies do supposedly incorporate civil lawsuits into their analysis but I do not know how often or what weight civil lawsuits are given.

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Answered on 1/16/09, 11:56 am


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