My ex-husband was awarded the house in my divorce. He was to refinance the house in 6 months. Instead he allowed the house to foreclosed. I can not afford to pay my rent and the mortgage payment. What will be the effects on my credit if the house is foreclosed.

MM08

Hello mm:

You'll be screwed. I'd see your lawyer again.

excon

That depends on whether you name is still on the deed and mortgage. If it is, then your credit is affected. If not, then you have no worries. Has the house been foreclosed on or is it just in the beginning stages?

I'm assuming you are a co-guarantor on the mortgage note. If your ex-husband allowed the house to go into foreclosure, it has already been reported against your credit. It also sounds like you were making payments directly to your ex-husband to be applied to the mortgage and he used/kept the money otherwise, because after a mortgage goes into default, the mortgage company stops accepting payments and notifies the parties in default.

At this point, unless you have a written agreement that you will send a certain amount of money to your ex-husband for the mortgage, you should probably stop send him "that" money.

If you husband "was awarded" to keep the house what kind of arrangement you have? You should not be on a deed. If you are not, nothing to be worry about.

Sadly divorce court does not take your name off the mortgage, that was why he was ordered to get a new loan ( which he did not from what you are saying)

So it will go against his credit and your credit, you can take him back to family court and try to make him do something but this is very common in divorce.