I hate to sound like a lawyer, but it depends. If you have separate credit reporting accounts, it may affect the wife's credit slightly. If there is only a joint credit account, yes, it will affect the wife's credit the same as the husband's.
You can ask the 3 major credit reporting agencies (Experian, TransUnion and Equifax) to separate out your credit histories. If the foreclosure has already started, it may be too late. Get a free credit report from each (once each year) at www.annualcreditreport.com.
Will my future wife's forclosure effect me?
Deed in lieu of foreclosure is not nearly as devastating to your credit as is a full foreclosure. Below is an article about the pros and cons of deed in lieu.
No, having her listed as an authorized user will have no impact on your credit score.
A short sale will have a detrimental affect on your credit record but not as bad as a foreclosure.
Your credit will be affected negatively with a possibility of your credit score dropping 200 or more points. Not sure if you are in foreclosure now but if you are not make sure to communicate with your banks regarding your situation to prepare for other options and at least the banks will be aware.
A foreclosure will typically remain on your credit report for seven years.
7 years + 180 days from date of first delinquency.
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
The foreclosure will be on your credit report indefinitely.
A foreclosure will typically remain on your credit report for seven years.
Foreclosure is a very damaging entry on a CR, and will cause problems if the person tries to obtain credit (especially another mortgage), in the future. Foreclosures remain on a CR for seven (7) years. Here is an interesting article I read just today on this topic. Here have a look: http://www.mortgagetonight.com/2009/01/how-foreclosure-affects-credit/
how many points dose foreclosure decrease your credit score
Usually a foreclosure will lower a person's credit score by 250 points, and sometimes by as many as 280 points. The foreclosure stays on a person's credit report for seven years.