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Cosigner Question

Posted on: 27th Apr, 2009 06:44 pm
My mother is planning on co-signing with me for a mortgage due to my bad credit history. Before my divorce, 9 years ago, my credit was excellent; but after losing a couple jobs, attorney fee's etc, my credit went down the tubes. Chargeoffs, vehicle repo, etc. My question concerns after the original mortgage with my mother and me on the mortgage. What does it take, time/credit repair/etc, before I can refinance with just myself on the mortgage?
Hi ANB,

Negative items will remain on your credit report for 7 years. But with the passing of time, the effect of these negative items are lowered. You will have to improve your credit first in order to refinance the mortgage in your name. You can check out the following link in order to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Thanks
Posted on: 27th Apr, 2009 08:33 pm
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