The best way to find out is if your dad requests a copy of his credit report . If the loan in default was reported on his name too it will show there. If it doesn't show - he would not have any problems to obtain a mortgage providing that he meet all other qualification criteria.
As a consumer he can get a free credit report from all 3 agencies ( and it will not show as an inquary) by visiting http://www.annualcreditreport.com
Please vote if my answer was helpful.
Iliana Ivanova P.A.
Real Estate and Mortgage Broker
It's not a matter of him claiming ownership (by being on the deed). It's not a matter of whether he lived in the property. The issue is whether he was on the mortgage or co-signed for your sister's house. If he was in any way financially obligated, then--yes--it could hurt him.
So: Check with your dad to find out precisely what his involvement was on the foreclosed home.
Hope that helps.
Peter is exactly correct! If you need help searching for properties please contact me.
James Williams, III
RE/MAX Premier Properties
Kissimmee, FL 34744
Licensed Mortgage Professional
Private Client Division
Franklin First Financial, Ltd.
538 Broadhollow Road, Suite 401
Melville, New York 11747