pre foreclosure transfer.

[kimberlyrosem]

What is the name of your state? CA
This question is regarding court reporting of public information to credit bureas if they do that and credit repair.
A lot was put into my name due to my husband having a taxlien. He was in total control of project and loans even though loans were in my name.
We got a 1. mill contruction loan .
Prior to notice of default for foreclosure , recorded which I received today we transfered the property into a trust with my husband as trustee so he would be responsible and my credit would not be affected.
The default notice does not mention the trust name only mine .The trustee explained that because my name is on the original trust it would be on all the foreclosure docs but anyone researching would see that the property had been transfered prior to foreclosure and presumably new owner would be responsible for loans.
The private lender will not notify the credit bureas.
But will this public info somehow or automatically get to my credit report and affect my score and will I beable to get it removed. or credit repaired.
ie my husband will sign a letter saying he is responsible for all the loans.
Any suggestions about what will happen and what I can do to save my good credit.
Thankyou.
KAte.
ps. This was a 100% contruction loan so all that is at stake is my credit.

[seniorjudge]

Sounds like y'all are trying to commit fraud.

In any event, if you don't pay a mortgage, it doesn't matter whose name the land is in, the lender can foreclose.

[HomeGuru]

Originally Posted by seniorjudge

Sounds like y'all are trying to commit fraud.

In any event, if you don't pay a mortgage, it doesn't matter whose name the land is in, the lender can foreclose.

**A: and the lender will foreclose on the original borrowers as well as the current titleholders.

[kimberlyrosem]

Even If the current title holder /husband signs docs taking over full responsibility for theloan will the previous title holder/me still be named on final forecoslure. The private lender will coperate as theyknow construction loan/project is 100% my husbands responsiblity and if they can avoid putting my name on it they will.
thankyou.

[pojo2]

Look up fraud in the dictionary!

[seniorjudge]

Originally Posted by kimberlyrosem

Even If the current title holder /husband signs docs taking over full responsibility for theloan will the previous title holder/me still be named on final forecoslure. The private lender will coperate as theyknow construction loan/project is 100% my husbands responsiblity and if they can avoid putting my name on it they will.
thankyou.

Period.

End of story.

Even if.

[HomeGuru]

Originally Posted by kimberlyrosem

Even If the current title holder /husband signs docs taking over full responsibility for theloan will the previous title holder/me still be named on final forecoslure. The private lender will coperate as theyknow construction loan/project is 100% my husbands responsiblity and if they can avoid putting my name on it they will.
thankyou.

**A: read my post.