Ask Experts Questions for FREE Help !
Ask
    gilbertp21's Avatar
    gilbertp21 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Oct 2, 2008, 04:30 PM
    How is my credit status effected by foreclosure process? What steps do I take to protect my assets?

    If the foreclosure process has started with my ex-wife, should I remove my name fromchecking account with my new wife?

    If the foreclosure process has started with my ex-wife, should I remove my name fromchecking account with my new wife?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Oct 2, 2008, 04:38 PM

    Pay the balance of what is owed,
    It will ruin your credit. Try and sell the house even if on a short sale.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Oct 2, 2008, 05:24 PM

    Please don't keep posting the same question, they have been merged
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Foreclosure on an equity line of credit [ 5 Answers ]

The scenario is this. The home has a lst mortgage on it with a balance of roughly $135,000. There is a second mortgage loan in the form of an equity line of credit. The financial institution that gave the wloan has foreclosed on the second mortgage.

Affect of Foreclosure on credit [ 1 Answers ]

I purchased a new home and have been trying to sell my old home 2 years. I have tried renting it, but the renters don't pay and I have had to spend money in court evicting them. It is getting to the point where it will be difficult for me to pay for both houses. Should I just let the house...

Credit repair after foreclosure [ 1 Answers ]

My wife's home was foreclosed in April 2007. This was the home she purchased in 2001 before we met. Everything was going just fine for her, good credit, on-time payments. When she and I married in 2006 she put her house up for sale as she was moving from the Detroit area and we now live in my...

Can your spouse's credit be affected by foreclosure? [ 1 Answers ]

I would like to know if the spouse is not on the deed nor the loan, if he or she's credit be affected?

View more questions Search