What will happen to my credit if the home I quitclaimed to my ex is bring foreclosed on?
Full Question:
I was divorced 2 years ago and I'm now re-married. My new wife and her mother have obtained financing for a new home that will be occupied by me and my new wife. I signed a quitclaim deed on the home that my ex and I financed and that home is being foreclosed on. I want to be on the deed for the new home. What legal ramifications will I face regarding the old mortgage?
11/23/2007 |
Category: Debts and Credit |
State: Florida |
#12753
Answer:
If your mortgage went into foreclosure, it may show on your credit report for seven years.