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    wpatl's Avatar
    wpatl Posts: 2, Reputation: 1
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    #1

    Oct 19, 2008, 08:10 AM
    On Title but NOT on Mortgage - Florida
    I am on the Title to a condo in Florida as Right of Survivorship but NOT on the Mortgage. I was put on the Title as a way for my Grandparent to guarantee me some sort of inheritance. The Power of Attorney for the Estate is allowing foreclosure on the condo, if this happens will this affect MY credit? FYI - There is no equity left in the condo!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 19, 2008, 08:19 AM

    First there is not a "power of attorney" that is over an estate,
    If a person had power of attorney from the person, that ended at death.
    There may be a trustee or someone appointed to be over the estate by the judge or will.

    Did you not want to take over the mortgage ?
    But since you are not on the mortgage it should not effect your credit.
    wpatl's Avatar
    wpatl Posts: 2, Reputation: 1
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    #3

    Oct 19, 2008, 08:33 AM

    Ok, sorry my brain is not transmitting to my hands properly. You are correct the lawyer over the estate suggested to the "POA" that they allow the condo to go in to foreclosure. The condo was refied/cashed out so no equity and I do not want to incur another mortgage at this time, especially such a large one. The estate lawyer said it may or may not affect my credit report since I am considered the owner. I'm concerned about my credit, I don't think my Grandparent would've want this to affect my credit...

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