Q: If the house I co-inherited with my sister goes into foreclosure, will it affect my credit? (House in my father's name)
I'm struggling to get my sister on the same page about what to do with my dad's house. It's still in his name because he didn't leave a will and my sister and I have yet to go through probate. I have tried to sell her my share of ownership for a reasonable sum or suggested we sell it, to no reply/agreement. I'm at the point of totally washing my hands of this situation and letting her deal with it just to protect my credit. Is there a way that I can exit this situation without her involvement, or does it affect my credit if the house falls in foreclosure, my name not being on either the mortgage or deed? Furthermore, my dad's cousin is a cosigner on the mortgage, aside from a foreclosure affecting them do they have any controlling stake on the house?
A: It should not affect your credit since you are not on the title or the mortgage. You may want to take a more active role by being appointed the personal representative ("executor") so you could sell the property if there is any equity to protect. You should get a lawyer to help you with this
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