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  1. #1
    Join Date
    Aug 2009

    Default Odd Forclosure Scenario

    My question involves a foreclosure in the State of: Delaware

    My girlfriend bought a house with her ex-boyfriend about 3 years ago. They have an 80/20 loan situation and are obviously no longer together. Now for the odd parts. When they broke up, he removed his name from the Deed for whatever reason and her name is the only one on record. The 20% loan is in both of their names BUT the 80% is only in his name (the mortgage company has no record of her ss# and it does not show up on any of her credit reports).

    We are moving shortly and the house, like most other homes bought 3 years ago, is worth less than what they paid for it. Neither of them can swing the difference if they sell and he says he is not paying "one red cent" for anything. She on, the other hand, is paying the 20% loan regularly and as of this month, has decided to stop paying "his loan".

    Question: If his 80% loan goes into default, how does that effect her 20% loan and or her credit? Is she screwed?

    Thanks in advance!!!

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Odd Forclosure Scenario

    A foreclosure could conceivably show up on her credit, depending on how it is conducted. Foreclosure on the primary mortgage may also trigger legal action by her lender. If she's not on the loan at all, the mere default on the primary loan shouldn't show up on her credit. She can get her credit reports at and see what's on them.

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