---

Spouse with bad credit

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
vivrodi Joined: 30 Jan 2009 Posts: 1 1.43 Dollars($)	Posted: Fri Jan 30, 2009 12:37 pm    Post subject: Spouse with bad credit Like 0 Dislike 0 If a married couple is looking to get a mortgage to buy a house in Florida, one spouse has bad credit and the other good credit, and they want to buy the house and obtain the mortgage under the spouse with good credit's name only, would the bank look at the bad spouse credit also (assuming the good credit spouse has the income etc to get a loan on his own)? Would it prevent the bank from extending the loan to the good credit spouse?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri Jan 30, 2009 7:55 pm    Post subject: Like 0 Dislike 0 Hi vivrodi! Welcome to forums! As far as I know, if the person with good credit wants to get a loan in his name, the lender will look after his/her credit only. He won't be looking after the credit score of the other spouse who has a bad credit. Feel free to ask if you have further queries. Sussane
redoten Joined: 27 Jan 2009 Posts: 9 3.64 Dollars($)	Posted: Sun Feb 01, 2009 7:36 am    Post subject: Like 0 Dislike 0 Quote: with good credit's name only, would the bank look at the bad spouse credit also (assuming the good credit spouse has the income etc to get a loan on his own)? Would it prevent the bank from extending the loan to the good credit spouse? no, loan and mortgage if personal not related to others. if you have a good credit history and maybe your spouse have a bad credit i believe it cant give some effect. Hope It Help. [Link removed as per forum rules. Thanks.]
Missy12342008 Joined: 24 Feb 2009 Posts: 36 2.66 Dollars($)	Posted: Wed Mar 18, 2009 11:31 am    Post subject: able to get a loan with out spouse Like 0 Dislike 0 hi there I have some experience in this area. I am the bad credit spouse actually we wanted to purchase a home, and my husband has good credit but mine is bad so what he did was just took the loan out in his name only they did check my credit but I think it was only to see if they could put me on the loan. You should be able to purchase the home with out your spouse on the loan, but you can have him/her on the deed of the house.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Mar 18, 2009 2:12 pm    Post subject: Like 0 Dislike 0 it's nice to have someone who has been through this offer up a testimony. thank you, missy. and missy is right...a spouse with good credit and sufficient income to make the purchase can go ahead and do so. a spouse with poor credit who is not a party to the loan cannot have any impact on the loan at all. your spouse should go for it, vivrodi. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
Missy12342008@hotmail.com Guest	Posted: Wed Mar 18, 2009 3:22 pm    Post subject: good luck Like 0 Dislike 0 Good Luck vivrodi
Garysnober Joined: 17 Mar 2009 Posts: 450 15.29 Dollars($)	Posted: Sun Mar 29, 2009 8:04 pm    Post subject: Like 0 Dislike 0 Hi vivrodi the person with the best credit should apply for the loan. He can add you on the title/deed but as for the best rate, please use the person with the best credit score. It would benefit you the most to use the best credit score to get the best rate. Hope this helps. Good Luck!!!

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0