I LIVE IN LOUISIANA A COMMUNITY PROPERTY STATE.

desmona · Joined: 04 Feb 2009 Posts: 1 1.28 Dollars($)

I WANT TO PURCHASE A HOME IN MY NAME ONLY BUT I AM MARRIED. MY HUSBAND HAS BAD CREDIT AND MULTIPLE DEBTS OWED. I WAS TOLD I CAN GET THE LOAN IN MY OWN NAME BUT ALL HIS DEBTS WILL BE CONSIDERED WHEN CALCULATING THE AMOUNT OF LOAN I CAN AFFORD. IS THERE ANYWAY AROUND THIS? ANY SUGGESTIONS

jameshogg · Posted: Wed Feb 04, 2009 11:40 pm Post subject:

Hi desmona,

What I understand is, if you're in a community property state, and you buy a property in your name only, your husband may acquire an interest in it only if he pays for the mortgage on the property. Now, if you buy a house and make payments yourself, I don't think your spouse will occupy any share of the property. Therefore, the lender shouldn't consider his debts while calculating your mortgage debt ratio.

I think you should do some more loan shopping in order to get the right facts from lenders. You can have a loan talk with the lenders in this community. Just go for a no-obligation free consultation on whether you can qualify for a mortgage and which will be the best program for you.

Thanks

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