Foreclosure, On title but not morgage

Asked by mindbodyspiritnourish, Oswego, IL Tue May 22, 2012

My house was foreclosed. I am not on the mortgage but am on the title. mortgage was in my husbands name . Can i still get a mortgage? credit score is 688. I have 20% down, no debt, job.

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mindbodyspir…, Home Buyer, Oswego, IL
Thu May 24, 2012
More info...... The bank just took back ownership this week. Is there any way to have my name removed? Someone said i should "quit claim" it? Is that still possible if the house in now a REO?

What if I pay cash for a house? Can the bank put a lien on the house in my name? There are no back taxes or HOA fees outstanding on the foreclosed house, just the mortgage in my husband's name.

Or another question...can my brother in law buy a home in his name and rent to us and then in 3 years can he sell it to us for the remaining balance? Is that still considered "straw buying" if he's not doing it to make money, just to help us out. Btw, my husband lost his job ( his company went under) and was unemployed for 18 months, we aren't walking on an upside down house. We tried to modify but the bank wouldn't work with us. We are ethical people who just went through a rough patch.

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Ron Donavon, Agent, St Charles, IL
Tue May 22, 2012
Good afternoon,

There is a good chance you can qualify,as long as that foreclosure is not showing up anywhere on your credit report!

I'd call a lender you trust to run credit and advise you. I have a few great lenders I work with that would do this for you free of charge. Contact me if you would like names and numbers!
0 votes
Cheryl Stanl…, Agent, Spring Hill, FL
Tue May 22, 2012
That depends if you were on the deed. Also on who is financing you. Call, text or email me.

Cheryl Stanley
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