My ex was awarded the house in the divorce. He was unable to refinance it without my name on the loan. The house was foreclosed as he stopped making the payments AFTER the divorce was final. I fought to get my name off the loan but was unable to as he wouldn't sign the papers. I wrote a letter to the credit bureaus to get it off my credit report but was told that they wouldn't do it.
Do I really have to wait 7 yrs before I can get a house loan?
No, but it will take awhile to build up your credit again. If this is the only negative thing on your credit report, it shouldn't take too long. Request a copy of your credit report and fix any negatives (balances owed), that you can. Also, start saving up for a down payment. A large down payment will help as well since you won't be borrowing as much.
Answer by JeremysMom at 11:22 PM on Jun. 11, 2013
Answer by Dardenella at 11:21 PM on Jun. 11, 2013
Answer by PartyGalAnne at 1:41 AM on Jun. 12, 2013