The credit report may show her as receiving the hit for the foreclosure initially because of non-payment, but when the foreclosure actually happens, the deed of trust will show your name as well.

Because Texas is a community property state, her debts are yours, as well as your debts being hers. A foreclosure normally reports on both. Remember that when you apply for a new mortgage loan down the road, the foreclosure will show up on a joint pull. FHA requires both husband and wife be pulled for a loan. So, even if the foreclosure shows up only under her name, it will appear on the joint report.

The effect on your score could be minor if it is reported only under her, or a big hit if it is reported under you as well.