Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
MCS1967

0 Contributions
0 People Helped
Foreclosure on deceased husband's promissory note - will comments show on my report?
My deceased husband had a promissory note on a house. I am not on the note, only the deed, and not responsible for the debt. Will the foreclosure on the property show in the comments on my credit report, and will it have an effect on me trying to obtain loans in the future?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3672 People Helped

Assuming that you are the Executor

of his estate, If you are, Then you ARE responsible for paying off his debts.   If you aren't the executor, contact them and let them know about the debt. 

Just because the promisory note is not directly in your name does not mean that it will go away. I'd hate to see your house foreclosed on because it did not get paid. and yes that could happen.   It may not directly effect or appear on your credit report, but you certain;y don't want to lose the equity that you have in the property. 

Good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.