Posted: Sun Sep 13, 2009 5:16 pm Post subject: loan
I have a foreclosure it was 4 yrs ago. It was a regular loan. My spouse wants to use VA loan. I have no income. Do I have to be considered on his loan? We live in Washington state
As you do not have an income, you won't be considered for the loan. However, if you have a good credit score, then you may be able to include your name in the loan docs. In that case, your spouse's income would be considered for the loan whereas both of yours credit score would be taken into account by the lender. You should note, once your name is included in the mortgage docs, you would also become liable for paying off the mortgage dues. _________________ Procrastination is the enemy of your financial sucess
if your foreclosure would cause problems for the lender in this case, then you're better off remaining off the loan.
however, your lack of income has no bearing on the outcome of the loan, unless you have debt of your own that would be impactful (high monthly payments, for example). _________________ George M. Akerley
Loan Consultant
860-221-5044
tko16
