I have a question, I am looking at buying a house as I have done a pretty good job cleaning up and rebuilding my credit. I work but my wife stays home with the kids and does not have any income. I believe she has credit problems from the past. If I were to apply for a mortgage, can I apply just under my name and credit and leave her out of it?
Boomer That is exactly what you should do. The mortgage would be in your name only while the deed would be in both names. Good luck with your home search. fla-tan
We're sort of thinking along these lines too Fla-tan, since I'm a SAHM also. How does the spouses name get on the deed? What happens to the loan if something happens to the spouse who is paying? The other spouse would still be responsible right? Newstdt
Re: Re: Home Mortgage Question??? Thanks for the answer FLA-TAN, that's what I was hoping. I am going to force my wife to check her credit as it may not be as bad as I think as most of her problems were before we got married 8 years ago and she hasn't had any problems (although no positives since that time).
Re: Re: Home Mortgage Question??? In some States, especially community property States, the spouse is required to be placed on the mortgage deed at closing. It is really not a dificult thing to do. fla-tan
Re: Re: Re: Home Mortgage Question??? boomer You may want to consider adding her to your positve credit to give her a history. Also, I wouldn't suggest "forcing" her to do anything, it may not be positive for your marriage. LOL fla-tan
