I want to get married but the person has a house in foreclosure. Will this affect my home? 16 Answers as of July 30, 2011

I want to get married but the person has a house in foreclosure. Will this affect my home and will it affect my credit? My house is paid for and I don't want any liens on it because of the person's foreclosure.

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
It should not affect your credit or home unless you were also listed on the mortgage of the home being foreclosed. You should refrain from putting them as an owner on your house until they have resolved their debt issues.
Answer Applies to: New Hampshire
Replied: 7/21/2011
Law Office of Jackie Robert Geller
Law Office of Jackie Robert Geller | Jackie Robert Geller
You may want to consider obtaining a prenuptial agreement that makes it clear you have no liability on that loan.
Answer Applies to: California
Replied: 7/20/2011
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE).
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
Will affect your credit perhaps so try to settle it first.
Answer Applies to: California
Replied: 7/20/2011
The Schreiber Law Firm
The Schreiber Law Firm | Jeffrey D. Schreiber
Only if there is a deficiency and you put them on title to your house so that the judgment lien attached to a property which they own.
Answer Applies to: California
Replied: 7/20/2011
Rosenberg & Press, LLC
Rosenberg & Press, LLC | Christopher D. Hite
If you are not on mortgage or note, it's not on you. However, I would caution about about jumping into something with someone that has that kind of financial baggage.
Answer Applies to: Connecticut
Replied: 7/20/2011
    Financial Relief Law Center
    Financial Relief Law Center | Mark Alonso
    This should not impact your situation at all. CA is a community property state, and therefore any property/ debts acquired during marriage are community debt/property. However, in your case, the debt in question that is causing the foreclosure has been acquired prior to when you will get married. Therefore, your future spouse's debt is that person's separate property and would not be considered a debt of the community and they cannot come after your home for that person's debt. Additionally, your credit should not be effected either.
    Answer Applies to: California
    Replied: 7/20/2011
    The Port Law Firm
    The Port Law Firm | Edward Port
    Getting married does not make you liable for your spouse's debt.
    Answer Applies to: Florida
    Replied: 7/20/2011
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    That will not cause you any grief. Congratulations.
    Answer Applies to: California
    Replied: 7/19/2011
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    Property acquired before marriage is separate property. It is not liable for a spousal's debts.
    Answer Applies to: California
    Replied: 7/19/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    Shouldn't be a problem. Just keep your new spouse's name off the home and bank accounts.
    Answer Applies to: California
    Replied: 7/19/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Is the person in Chapter 7 or 13? If a 7, you don't have to wait too long. If 13, it'll be awhile before discharge. Your finances and his (hers?) will be separate, especially if you keep your property, including your bank accounts, in your name alone.
    Answer Applies to: Virginia
    Replied: 7/19/2011
    Ray Fisher Law Offices
    Ray Fisher Law Offices | Ray Fisher
    No.
    Answer Applies to: Texas
    Replied: 7/19/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    To be safe as to marrying a person with bad credit, see a lawyer about doing a prenuptial agreement.
    Answer Applies to: Georgia
    Replied: 7/19/2011
    The Law Offices of Steven Grace
    The Law Offices of Steven Grace | Steven Grace
    It probably wont affect your specific credit, because when two people marry they don't get a new joint credit profile or anything like that. The other persons credit is probably in bad shape, but that will not affect you in the credit area unless you are looking to get a loan based on a joint application. As to the foreclosure, there are what is called Deficiency Judgments in Illinois. Basically they give a bank the right to get a judgment for the difference between what is owed on the property and what it sells for at foreclosure sale. BUT the bank has to pursue this option. Once the foreclosure is completed, if the bank does pursue this option, then that will give them the right to collect from all available assets. This may or may not include the marital home, especially if it is titled in his name, this is a tricky subject.
    Answer Applies to: Illinois
    Replied: 7/19/2011
Click to View More Answers:
12 3 Free Legal QuestionsConnect with a local attorney