Foreclosure in Belleville>Question Details

Sharon, Home Owner in Belleville, IL

Will my husbands foreclosure come back on me and our home? Both the properties are in Illinois.

Asked by Sharon, Belleville, IL Thu Nov 14, 2013

My husband and brother in law bought some property together, the property consisted of a home and horse stables. My husband eventually could not share the property with the brother in law no longer, and my brother in law was suppose to refinance and take my husbands name off the property. The bank wouldn't refinance him solely. My brother in law is now letting it go into foreclosure after 3 years of keeping up the payments. My husband and I own our residence, and both of our names on the title. If I remove his name from the title, can they still come after my home?

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4
If you are on the title, it will affect your credit. Sometimes banks just go after the property - but you should talk to an attorney. Maybe it is a potential for a short sale, maybe the bank will allow that. There are implications in all - best speak to an attorney.
0 votes Thank Flag Link Fri Nov 15, 2013
I would contact a lawyer as that is a legal question that I can't answer.
0 votes Thank Flag Link Thu Nov 14, 2013
This is a far reaching question and I would recommend to consult an attorney as soon as possible.
0 votes Thank Flag Link Thu Nov 14, 2013
This is a legal question. Please consult a lawyer even if it cost you some fee, it's well worth it. Here in Trulia you may get different opinions which may confuse you more.
0 votes Thank Flag Link Thu Nov 14, 2013
Thank you all so much.
Flag Fri Nov 15, 2013
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