Florida  |  Real Estate Law

Legal Question

Asked on: 7/13/11, 6:50 am

My mother-in law put a loan on a house she owns to pay for an addition on my wifes and mine home to live with us being her dad is disabled and needs our help. The idea was to rent out the home and pay for the loan with the rent money. With the real estate market taking such a big hit, we can't get enough rent money to pay for the loan which is draining her savings account in which she lives off of. The legal question is if she defaults on the loan will me and my wifes credit suffer because my wife is on the deed along with my mother in law for the rental home?

1 Answer


Answered on: 7/13/11, 9:39 am by David Slater

Not if she isn't on the note.


Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.


David P. Slater, Esq. 5154 Windsor Parke Dr. Boca Raton, FL 33496

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

115 Answers given in the last few hours.

8662 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search