QUESTION
I want to get married but the person has a house in foreclosure. Will this affect my home?
Asked on Jun 26th, 2011 on Bankruptcy - Georgia
More details to this question:
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.
5 ANSWERS
Bankruptcy & Debt Attorney serving San Diego, CA
Partner at
Jackie Robert Geller Attorney at Law
You may want to consider obtaining a prenuptial agreement that makes it clear you have no liability on that loan.
Answered on Jul 20th, 2011 at 8:35 PM
Probate and Estate Planning Attorney serving Stratford, CT
Partner at
Rosenberg & Hite, LLC
2 Awards
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.
Answered on Jul 20th, 2011 at 1:47 PM
Bankruptcy Attorney serving Concord, CA
at
William Rubendall Attorney at Law
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Property acquired before marriage is separate property. It is not liable for a spousal's debts.
Answered on Jul 19th, 2011 at 1:52 PM
Bankruptcy Attorney serving Herndon, VA
at
Maureen O'Malley
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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.
Answered on Jul 19th, 2011 at 1:45 PM
Glen Edward Ashman
To be safe as to marrying a person with bad credit, see a lawyer about doing a prenuptial agreement.
Answered on Jul 19th, 2011 at 1:41 PM