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I was a co-signer on a mortgage that went to forclosure, I didnt live there.
Now my fiance and I want to get a new home together, but he doesnt have a lot of credit and never owned anything but has a score of about 700 and I make almost twice as much as him with a score of about 650, will we be able to get a home together?

jameshogg · Posted: Sun Aug 29, 2010 10:10 pm Post subject:

Hi bettyblue,

As you were the co-signer of the mortgage, the foreclosure will be mentioned in your credit report. This will make it quite difficult for you to qualify for a loan. In that case, your fiancée should apply for a loan on his/her own and try to get qualified for it.

Thanks

erikawinstead · Joined: 29 Aug 2010 Posts: 2 1.31 Dollars($)

okay, but is it impossible for me not be on the loan if he is the primary? Also if I was to get on the loan will he be able to get all the first time buyers credits?

smithsussane · Posted: Wed Sep 01, 2010 10:39 pm Post subject:

Hi erikawinstead!

Welcome to forums!

Though there is a cosigner, you can be the primary mortgage holder. If both of you are first time homebuyers, then both of you will be qualified for the first time homebuyer's tax credit.

Feel free to ask if you've further queries.

Sussane

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