It won’t affect hubby’s credit. It will affect your ability to buy a home. He can buy but you won’t qualify. Deed in lieu of foreclosure is still a foreclosure on the credit. Sorry! By the way 3 years after the home transfers into new owners name you will once again be able to try to buy- as long as credit is PERFECT after the foeeelosurr.Rcferences : 26 years mortgage lender. Was this answer helpful?