If my wife is not on the loan but on title, will a foreclosure be on her credit report?
Question:
Answer:
Foreclosure will only be represented on the credit report of the mortgage holder. Title status won't effect it.
Bigger question you might want to run by an atty; how is she in title but not on a loan that is being forclosed? (unless you did a deed of gift after the mortgage) The mortgage company may not have the right to forclose on her interest; you might want to check depending on the deed tenancy and state.
No, the foreclosure only affects the person who is responsible for the credit part of the purchase/ownership.
It should not affect her credit file at all.
No, since her name is not on the loan it will have no affect on her, only you.
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