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It would appear that the person's options are limited.

Refinancing the home if one could get a lower payment and interest and perhaps cash out could be considered but that could prove difficult given the circumstances.

There are debt consolidation and other such agencies, but one must be extremely cautious when dealing with them.

The interested party might also consider consulting with a qualified bankruptcy attorney.

The ABA and all state bar associations offer free attorney referral services.

American Bar Association, see the Related Link below.

2011-08-11 15:12:39
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Related Questions

Can you buy a house without your spouse?

Yes you can. Moreover, you can't buy a house with a spouse, if you want to buy a house, you need to bring your own spouse into it.

Should you apply for a joint auto loan if one person is new to credit and the spouse has less than average credit?

Working in the collections industry I am jaded. I would say never sign for credit on a vehicle unless it's for your own car. If you get divorced you will be on that loan and also held responsible for the funds. If they can't find your spouse then your wages will be garnished. I have never financed with anyone including my husband. (except on our house which is a different story.)

If your spouse dies what happens to the house in Michigan?

Normally the spouse inherits the house. By law in Michigan a married couple should own the property as Tenants by the Entirety, which means that it transfers upon the death of the other spouse. Check the deed to insure that is so.

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You should name your country, In England, no, anywhere else, I dont know.

Can someone buy a house if spouse owes back child support?

Hopefully your credit history will carry the day so that you can finance the house. Otherwise, wait until the child support is paid up.

What are the benefits of adding a spouse name to a house deed?

The advantage would be for the spouse if you reside in a community property state where survivorship goes to the spouse should a death occur and property is divided 50/50% in cases of divorce.

When you get married and you have good credit and your spouse has bad credit does your spouse affect your credit at all?

If you trying to buy a house together, yes, his credit will be taken into consideration and you may have to pay a higher mortgage rate. If you are trying to buy anything together because you need to consider his salary you may have problems. But just cause you are married to him does't automatically affect your credit. But he could potentially harm your credit if he defaults on any loans while you are married. Being married alone makes you accountable for what he does during your marriage in many cases.

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If you recently filed for a divorce in alabama,can you still live in the house with your spouse

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If the surviving spouse's name is on the deed of the house, the house will automatically transfer to them. If the spouse is named in a will, the house will go to the named person.

What adjectives rhyme with house?

Blouse, house, spouse, and louse rhyme with house.

When you get married does your credit reflect on your spouse?

To answer your question: No, the credit of one spouse will not effect the credit of the other in any way. The only time the credit of one spouse will effect that of the other is when both open a joint loan, or joint credit account, in which case those specific accounts will be reported to both of your credit histories. That's it! :o) Hope this answers your question. the last answer is correct. I would just like to add that as a stay at home mother with a husband with bad credit, I am severly affected. His bad credit is 6-10 years old, my credit is immaculate. We can not get a car or a house on credit, we have to pay cash for everything. we can not use my "perfect" credit because I do not work. We can not get approved jointly, and he can not get approved alone because of his horrible credit(even though he makes more than 100,000 a year). If you marry into bad credit it does not affect your score, but it may affect your life.

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Yes, mortgages are always there when you buy a house, despite your bad credit, you may not even be offered to buy a house. So you should try to fix it.

What if other spouse can not pay mortgage when the other spouse dies?

Then the house needs to be sold.

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What rhymes with mouse?

Some words are:blouse, douse, dowse, grouse, rouse, spouse, flouse, HouseHouse and Louse xlouseHouse, blouse, spouse, louseHouse and Louse x

How would someone establish house credit at a casino?

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do you live in a community property state? if so anything a spouse does will affect the other.

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How much do you save to buy a house?

It will depend on how good your credit is and what you want your payments to be. If the price of a house is $100,000 and your credit is good and your fico score(this is your credit score) is 660 or higher You will need to put down 5%-10 % or $5,000 - $10,000 plus closeings cost of another 4% or $4,000.00 so if your credit is good you will need to save 9% -15% of the cost of the house you want to buy. Now if you have bad credit, you should clean up your credit before you buy. With bad credit your intrest rate will be high and your house payment will be high.

What rhymes with mama house?

Think about what rhymes with 'house'. spouse, crouse, mouse.

When you and your spouse are buying a house who pays for it?

My husband already owned a house when we got married so i have no problem anymore. It depends on the agreement of the couple in case the house is not paid yet, but the husband should pay more :))

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