Foreclosure... On title, not on mortgage instruments

[bigtmckin]

Texas... I am on title to a rental property in Texas. Tenants left and the property is costly to repair. I am on the title only, and my friend is on "all" of the mortgage instruments. What reprocussions do I have in terms of credit, public records, and the ability to obtain a mortgage for a primary residence?

Also, if a bank asks for my tax returns and then asks what happend to the property or wants a closing statement, how do I reply?

Thanks for your help in advance.

Tom