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foreclosure on jointly owned home

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irishfox

Guest
loan officers always ask the question "have you ever been a cosigner on a property that has been foreclosed on?"

Can I say "no", if I filed bankruptcy to get my name off of the house and then the ex-spouse allowed it to go into foreclosure later?
Technically, I was not an owner when it was foreclosed on and had nothing to do with the foreclosure.
 


HomeGuru

Senior Member
irishfox said:
loan officers always ask the question "have you ever been a cosigner on a property that has been foreclosed on?"

**A: because the question requires an answer based on the FNMA 1003 loan application.
*********

Can I say "no", if I filed bankruptcy to get my name off of the house and then the ex-spouse allowed it to go into foreclosure later?
Technically, I was not an owner when it was foreclosed on and had nothing to do with the foreclosure.

**A: if you were on the mortgage you must answer yes even if you were not on title at the time of the foreclosure.
 
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irishfox

Guest
I filed bankruptsy chapter 7 which means I was not on the mortgage either
 

HomeGuru

Senior Member
irishfox said:
I filed bankruptsy chapter 7 which means I was not on the mortgage either
My response: filing 7 does not mean you were not on the mortgage. You do not have the correct facts. Hire an attorney to help you since there is severe consequences
for a fraudulent loan application.
 

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