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Post Statistics: 773 Views, 5 Replies
Latest Post: Wed, Feb 25 2009 11:21 AM by kwik
  • Mon, Feb 23 2009 1:42 PM
    • Anonymous
    My boyfriend and I are getting married. He wants to walk away from his mortgage. If he does this and we marry, can they come after my home for his mortgage?
    boyfriend and are getting married in oct,09 he wants to walk away from hes mortgage,let bank take back.If he does this and we marry,can thay come after my home for hes mortgage???please help cindy
     
  • Mon, Feb 23 2009 3:32 PM

    No offense, but doesn't it bother you that you are marrying someone that has no problem walking away from an obligation like that?

  • Mon, Feb 23 2009 3:56 PM

    Probably  not.  But it is very likely that any major financial borrowings will be done in your name alone.  That is one of the realities you need to face up to.

     - View My Profile
    Certified Mortgage Professional
  • Tue, Feb 24 2009 12:36 AM

    The previous advice is correct. Because of his home going into foreclosure he's going to have credit issues for 4-7 years with most creditors.  That means all future credit for your household will ride on your back.  May or may not be an issue but you should be aware.

    And DO NOT add him to the title of your home.  Judgements in most states automatically attached to property owned and anything on his credit that goes to judgement would attach to your home.

    Otherwise, congratulations on getting married! Yes

     - View My Profile
    Professional Mortgage Lender
    Academy Mortgage
    clem.borkowski@academy.cc
    (719) 266-8183 x23
  • Tue, Feb 24 2009 12:56 PM

    There are different laws in different states regarding the ramifications of a foreclosure or deed in lieu of foreclosure.  In some states, he may still be liable for the difference between the balance remaining on the loan and the amount received from the sale of the property.  In some states, your spouse is automatically granted an ownership interest in your property.  You may want to consult an attorney that is well versed on these topics and how they could impact you.

     

     - View My Profile
    Mortgage Consultant
    M & M Mortgage, LLC #213677
    kmikkola@themmmortgage.com
    (651) 558-9807
  • Wed, Feb 25 2009 11:21 AM

    Big Smile  I'm sorry I can't marry you, your in foreclosure.... LOL

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