in foreclosure-name on deed not on mortage

kama5 · #1 05-10-2008, 02:15 PM

What is the name of your state? -PA

My name is currently on a deed to a house that is in foreclosure. I've tried to sell it on my own, sell it through a realtor, short-sales, etc but nothing has come through. My name is not on the mortage but my husband's name is. He left the country 3.5 years ago and I have not received any support from him. The mortage company put my name on a default judgement and I talked to a (free) lawyer who said that I would not be able to get that off my credit and that I may not be able to buy a house in the future. Is this true? I would keep this house but it was bought as a fixer-upper and I have not been able to secure a loan on my own to refinance and fix the house. I'm in grad school, have two toddlers and make 700 a month. What are my options? Thank you in advance for your help,

Christina

dmiller12 · #2 05-11-2008, 01:05 PM

If you're not on the Note (promise to repay) then this should not impact your credit.

LindaP777 · #3 05-11-2008, 04:01 PM

Please explain how your name is on the deed, but not the mortage?

moburkes · #4 05-11-2008, 04:25 PM

Quote:

Originally Posted by LindaP777

Please explain how your name is on the deed, but not the mortage?

Happens often. There is no law that requires both husband and wife to be on the loan. However, most married couples are on the deed. This happens often.

kama5 · #5 05-11-2008, 08:57 PM

thanks everyone for your replies. My husband's credit was better than mine at the time we bought the house so we were advised to use only his name on the mortage to get a better rate. however, there is a judgement which i believe will go under the public records part of my credit report. this is a bad thing correct? how can i get his removed? my free lawyer stated that I could not even though they should not have put it on in the first place since my name is not on the mortage. apparently I only had 10 days from date of receipt to file a dispute. i have heard of people though getting judgements removed from their credit. is this possible? thanks,

moburkes · #6 05-11-2008, 09:05 PM

Quote:

Originally Posted by kama5

thanks everyone for your replies. My husband's credit was better than mine at the time we bought the house so we were advised to use only his name on the mortage to get a better rate. however, there is a judgement which i believe will go under the public records part of my credit report. this is a bad thing correct? how can i get his removed? my free lawyer stated that I could not even though they should not have put it on in the first place since my name is not on the mortage. apparently I only had 10 days from date of receipt to file a dispute. i have heard of people though getting judgements removed from their credit. is this possible? thanks,

I'm thinking that free lawyer is correct. You aren't responsible for any deficiency balance, which is what I'm guessing is on your credit.

kama5 · #7 05-11-2008, 10:17 PM

so what can i do about the default judgement? will i be able to get it removed? thanks again

dmiller12 · #8 05-15-2008, 11:55 PM

You could try contacting a debt remediation/repair company (not to be confused with consumer credit counseling). They'll challenge the credit reporting agency that is reporting the default judgment and hold them to the Fair Credit Reporting act. It is the reporting agencies responsibility to prove that this is valid. If it's not, they're required by law to remove it from your report. I don't know who you should call in PA, but in MN you could call Armor Credit Services or go hear [url]http://www.armorcreditservices.com/[/url].
Good luck.

wealthcare · #9 05-21-2008, 01:26 PM

Quote:

Originally Posted by dmiller12

the credit reporting agency that is reporting the default judgment and hold them to the Fair Credit Reporting act. It is the reporting agencies responsibility to prove that this is valid.

Sort of ... Credit reporting agencies don't create the report they assemble it. All the reporting agency will do is contact the company who filed the report against you. That company will most likely say, "yes, we filed the report". Then you'll have to pursue the company which filed the report you believe to be erroneous (and from what you have stated I would tend to concur).

Let me urge extreme caution concerning "credit remediation" companies. Most of what they do, and charge you a handsome price to do, you can do yourself for free or cheap. Furthermore they, in fact, may be endangering you by challenging negative reporting that you know, in fact, to be accurate. Just visit [url]www.annualcreditreport.com[/url] or the FTC website at [url]www.ftc.gov[/url] and contact a licensed personal debt attorney in your area for likely a free consultation.