Credit and foreclousre question?

Question

I just got married and have own my own condo for about 2 years, times are tough and looking to walk away from my condo. If no documents show my wife is part of this condo, can it hurt her credit report or can they go after her?

Answer 1

In my opinion, probably not, but it depends.  Is this your personal residence?  If it is a rental then is may be possible that they come after you for the deficiency after they sell it since it could be construde as community property, hoverever,  if you had a prenuptual agreement, that stated that had this a your sole and separate property, then probably no.  Since I am not an attorney and cannot give you legal advice, I would suggest you seek a mortage/foreclosure specialist attorney

Answer 2

As long as her name is not on the Mortgage or Deed and you are not in a community property state then it will not hurt her credit.

Answer 3

Depends on what State you live in, if you live in a community property State like AZ, CA, ID, LA, NV, NM, TX, WA or WI then yes they can go after your Wife, if you do not live in one of those States and her name is not on the contract then no they can not go after her.

Answer 4

I fail to see where any one of the responders, with the exception of Kat, misunderstood your question and they are all right!