Q: My ex wife’s mortgage is in my name, if she stops paying the mortgage will it hurt my credit?
She’s responsible for all costs associated with the home per the divorce decree. I have a perfect credit score and I really don’t want this to screw things up. She hasn’t paid it in 2 months. I’m really not sure how to go about this.
A: Short answer: Yes, it will hurt your credit. If your name is on the mortgage and it is being reported to the credit agencies, then as soon as that mortgage is reported as late that will be a ding on your credit. You can dispute your responsibility for the expenses with the agencies, but until your name is off the mortgage via a refi or payoff, then your credit will be impacted if she does not make the payments.
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