I am not on the note, am not on the warranty deed, but am on the mortgage. Will foreclosure affect my credit?

Asked by Concerned, Ohio Thu Jul 7, 2011

My wife purchased a home with her credit only. When she refinanced (again with her credit only) the title insurance employee had me sign the mortgage (not the note). I am not on the deed or the note. The home is going into foreclosure. Will my credit be affected? I have read that I will be a party to the foreclosure since I am on the mortgage (even though I am not the the deed or the note). Given this, I have also read that public records will show a foreclosure for me -- even though I am not on the note. Then I am told that the credit bureaus will pick up the information on public records and my credit will be affected. Can any one shed any light on this? Why should my credit take a hit if I am not responsible for the note?

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Anna M Brocco, Agent, Williston Park, NY
Fri Jul 8, 2011
At this point it's really in your best interest to consult with an attorney who specializes in real estate....
0 votes
Shanna Rogers, Agent, Murrieta, CA
Thu Jul 7, 2011
Hi Concerned,

You need to contact a Real Estate Attorney and let them see all the paperwork you signed.

Shanna Rogers
SR Realty
0 votes
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