my ex-wife is still on the mortgage loan of 3 of my houses,if she claims bankruptcy will it hurt my credit?

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I had her fill out a quit-claim deed so she is not on title

  1. Reply
    February 22, 2011 at 7:22 am

    You should definately consult an expert as quickly as possible!! Don’t guess ~ I would even take the time to call Transunion or Experian and ask a rep. (Not Equifax, they stink) anyhow, regardless, find out, and CUT the strings ASAP since you’re dealing with such a sensitive/critical beast (credit scores-not your ex 😉 I found a good site listed below that finds your situation perfectly~ read it! 🙂

  2. Reply
    February 22, 2011 at 7:51 am

    No. As long as the mortgages are paid on time your credit isn’t at risk. Just make sure she doesn’t try to discharge the mortgages.

  3. Reply
    Christopher B
    February 22, 2011 at 8:24 am

    It may not affect you at all – as long as your mortgages are not included in the bankruptcy proceedings. It will also help if you can show that you have been to sole contributor to the mortgages, and that she no longer has a stake in the properties (which the quit claim deeds will help with).

    If she cannot tell you without a doubt that the mortgages are not part of the bankruptcy proceedings, then contact her attorney. You can always retain a lawyer for yourself, one that specializes in real estate and bankruptcy.

  4. Reply
    February 22, 2011 at 8:53 am

    No, being on the mortgage will not affect your credit.

    Just as an FYI, if she quit-claimed it to you then goes and files bankruptcy within a year or so they can come after the houses because she is trying to hide assets.

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