My husbands name is still on the mortgage he had from a previous marriage. the effects of foreclosure on me?

okay here is the scoop. If my husbands ex wife lets the house that is still in both their names go into to foreclosure, will this effect the current mortgage him and I have together?





The house was to be sold as part of their divorce decree but due to the market, it hasn't sold and the ex can no longer keep up with the payments and we can swing both mortgages.My husbands name is still on the mortgage he had from a previous marriage. the effects of foreclosure on me?
The foreclosure will not affect your current mortgage.





Who was awarded the house in the divorce decree? If the house was awarded to the wife, the your husband can possibly dispute the foreclosure stating that it was not his responsibility per the divorce agreement.My husbands name is still on the mortgage he had from a previous marriage. the effects of foreclosure on me?
It won't affect the current mortgage you have together. It will though ravage both your credit and make you unable to refinance for 3 or more years.





If you can kick her out and rent it out and try to keep the payments current.





You could also sell the house short sale through the lender. It will still hurt your credit but not as bad.
Sorry. You are obligated.
discuss this with your attorney and get your credit reports printed from all 3 companies.