Credit reporting question

[mark]

My house foreclosed. Wife is on deed but not on mortgage note. Does she avoid the credit reporting walk of shame? :o

karmrd

[EdytaHome]

I have the same situation, anyone have an answer?

[HHM]

Hmm, interesting question, I forget if foreclosures appear in the public records section of your credit report or are only reported as part of the underlying mortgage account. If its the later (merely reported on the mortgage account), then a spouse who is not on the note should not have here credit report affected, however, it is reported as a public record (like BK is reported), then it may appear on her credit report since she was on the deed.

[mwgreco]

It will not show up on her credit

Foreclosure will not show up on her credit because she is under no obligation to repay the loan...

[mark]

Thanks,

I told her that it would not but I really wasn't sure.