In the even of foreclosure, will my credit be effected if the home is only in my husbands name?

Question

If we need to foreclose on our home will my credit be effected if the home is only in my husbands name and not in my name at all? I never signed my name to one paper and the house is not in my name at all. I actually had to sign a paper stating that the house was not in my name at all and have it noterized. I am not on the deed to house title or anything. I live in Arizona which is a community propery state or something like that, but I need to know what would happen to my credit if the only link I have litterally to this home is marriage.

Answer 1

As far as your credit score is concerned, probably not...however, being in a community property state may complicate things in the long run.

I would contact an attorney and ask them whether you would be subject to a judgment if your lender filed suit for non-payment.

Answer 2

Are you trying to keep your home? Loss mitigation may be able to help you save your home from foreclosure thru programs that may be available to you.