Expert: Terry Leeders - 4/12/2008

Question
Our house is in my wife's name and we can't afford to pay for it anymore, if the house is in foreclosure can the bank come after me and my credit eventhough my name is not on the mortgage?
Thank you

Answer
I am not sure if you are asking about bankruptcy...??
IF you both file bankruptcy and surrender the home, then no, it won't affect you otherwise.  If you are asking if the home forecloses can they come after you? that would depend on the state where you live, if it is a community property state.  Check with a local attorney about that, and the effect of the foreclosure or her bankruptcy on you.