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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