Hello, I am starting to repair my credit and honestly I didn't know that I had so many options. It is good that I finally found this message board. Every time I pull my score it tells me that 91% of the people have better credit than me, I thought that I was alone in this journey and that it would be impossible. I guess it is not going to be that bad at all. Well, my question is about a foreclosure that is about to take place under my husband's name. He was a co-signor for his mother's house back in 1997 and now his mom can't afford to keep the house, we can't afford it either, not now. Is there any way that he can dispute this account as not his? I am really hoping that it's possible, because I really want for our credit to be as clean as can be so that in a year or so we can buy our first home.
How do you expect to afford 2 house a year from now if you can't pay for one today? That's what you are facing right now and you don't even have a year if mum don't make the payments on hers. Why did you co-sign a loan if you knew you couldn't afford to pay if mum didn't? ``````````````````````````````` One possible solution I see is. The two of you switch homes or payments. THAT OR,take over payments and move in with her In order to free up the money you're now paying in rent.
If your husband co-signed then he is 100% obligated to pay and disputing it as "not mine" MAY or MAY NOT work. You can dispute anything as "not mine" but that doesn't mean it won't come back verified. Foreclosures are difficult to remove (I'm dealing with one now). You should be 100% aware of the implications that this can have - you can't dispute now because it's not "over" yet. And once that hits, his score will tank. And possibility of getting it off in the next year and it being so fresh and nearly 0%. You can focus on trying to get that taken care of, but work on your scores also. Financially, could you afford the home alone?
Well, then it is best to see what happens and just leave it like that. I can always purchase the home on my own and maybe in a couple of years have him added in as an owner when his credit rating gets better after this foreclosure. What can I do to improve my credit scores? I don't have much credit going on, just a student loan and a couple of collections that I have paid.
Without knowing exactly what's on your credit report, we can't really say what you should do. If you haven't, read the FAQ part of this board. If you don't have a credit card, you should get one. As for those paid collections, try to dispute them to get them off. How old are these collections? There are a number of letters floating around this board that can help with paid collections (i.e. Nutcase). Search around and good luck.
Thank you very much. I will read those FAQ and I'll go by what they say. Congrats on your soon to be homeowner again!!!!!!!!
