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veronicasalazar · Joined: 02 Feb 2010 Posts: 1 1.31 Dollars($)

I am separated from my husband for the past 3yrs. I got pre qualify for a loan in Idaho. I am about to close but the loan officer wants information of my husband. I don't want him to have anything to do with the loan. Why do they need his info Any suggestion?

sara · Posted: Wed Feb 03, 2010 1:48 am Post subject:

Hi veronicasalazar,

Idaho is a community property state. If the mortgage is paid from the community funds, then your husband will have the rights to claim ownership of the property. The lender may even want him to be the owner of the property as well as be responsible for the loan.

If you do not want him to be the owner of the property or be liable for the mortgage, then you should ask him to sign an inter-spousal transfer deed and release his interest in the property to you. In that case, the lender will not ask for information regarding your husband.

Take care.

Guest

yes they did say that, but they ask me for his social number? What does that mean and also they said that they have to check his credit score. His credit score is bad. what should I do?

jameshogg · Posted: Wed Feb 03, 2010 10:52 pm Post subject:

Hi vsalazar,

If your husband becomes a co-borrower of the loan, the lender would definitely check his credit score, income and other details in order to find out whether or not he would be able to afford the loan.

As Sara has suggested, you can ask him to sign an interspousal transfer deed and release his interest in the property. Thus, you would become the sole owner of the property and get the loan in your name alone.

Thanks

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SEPARATED I GOT PRE QUALIFY FOR A LOAN