Owner not on loan (mortgage, mortgage, property, lender)

[lvoc]

Interesting one. Owner is not on the mortgage. Property (nice house) was mortgaged by husband alone. Title held by an LLC. Ownership passed to wife on death of husband. Now $150,000 underwater. LLC dissolved and title in wife's name.

She has decided to walk. Any risk to her credit in any of this.

Bit of a shame. Very nice house beautifully maintained that may end up trashed before this is over.

[EngGirl]

No risks to her credit score since she never signed any papers for mortgage and promissed to pay anything back to lender.