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Three years ago, my husband and I both had credit scores above 700 and bought our first home. We live in Pennsylvania. Earlier this year we wanted to refinance...but a bad case of identity theft was discovered against me and th thief really did some damage, now my credit is one stop short of being shot. This is becoming a bear to clear. This seems like a dumb question, but can we still refinance, putting the loan in my husband's name only? I do not believe Pennsylvania is a community property state, so there should not be any law saying married couples have to both have their name on a mortgage loan. I would a full time job, with a fixed salary of $25,000 a year. My husband's income is about triple that. So can we still consider my income but just not put me on the loan?

eric1 · Posted: Thu Apr 30, 2009 6:13 pm Post subject:

Yes your husband can be the only person on the loan since his scores are much higher. However, you can only use his income for qualification purposes. Your name can still be on the deed.

smithsussane · Posted: Thu Apr 30, 2009 7:54 pm Post subject:

Hi kasage!

Welcome to forums!

I agree with Eric. Yes, your husband will be able to refinance the mortgage in his name alone. Your name will remain on the property deed but you will not be responsible to pay off the debts.

Feel free to ask if you have further queries.

Sussane

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

I think one thing some one need to clarify here is, will there consider both of your income for approving the loan, with out lookign at her credit score.

It may be easier when they look your husbands income only.

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Hi kasage,

Welcome to our forum

I agree with you on the point that Pennsylvania is not a community property state so in do not worry about that. Surely if your husband's score is 700 then on his own he can get the mortgage loan.

You have mentioned that this is your second home. Any lender will ask for the repayment track record of the first mortgage. If that is up to the mark then surely you won't find any problem getting the mortgage on your husband's name.

Thanks & Regards.

gmakerley · Posted: Fri May 01, 2009 8:16 am Post subject:

geni, if she is not on the loan, her income is not considered.

gunzi...please read more carefully...the poster stated that this is their first home. your response isn't relevant.

kasage, i agree with the foregoing opinion of eric...you ought to be able to refinance with your husband's information only.

JKennedySLG · Posted: Fri May 01, 2009 9:50 am Post subject:

Hey Kasage,

I think everyone has answered your question for you. Now, identity theft is a pretty big issue in itself. I have a great company with a proven track record for success, which I can refer you to. They can help you to clear any or all of those derogatory items on your credit which may be holding you back. Message me and I will give you the contact info. I hope this helps...

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