my fiance had a house get forclosed (it was finalized a few months ago) I would like to buy within the next few years but he has to wait 7 years from when he got forclosed on. so my question is if we get married does he have to be on the loan as well? what if we don't get married til after we buy? thanks!Answer Question
Asked by Anonymous at 10:05 PM on Jul. 23, 2009 in Money & Work
It is best to go talk to a bank or a realtor, about this.
Answer by louise2 at 10:14 PM on Jul. 23, 2009
Answer by Anonymous at 10:18 PM on Jul. 23, 2009
Answer by Kari126 at 11:21 PM on Jul. 23, 2009
Depends on what state you live in. Good credit and a good income are necessary for buying right now so you will need to wait a few years if he is on the note. Can you make the payment on your pay alone your pay is the only pay they will consider if he is not on the note. If I was you I would wait and start saving right now. We have a near perfect credit score, 135k income, and 20 percent down and had to jump through a few more hoops to finalize our loan than we did a few years ago when we had 0 to put down, so-so credit and a much lower income. They lenders are not giving just anyone a loan like they did before the housing collapse. So the more you save, better your credit score and a good income the better your chances are.
Answer by Anonymous at 12:14 AM on Jul. 24, 2009
Answer by rkoloms at 7:57 AM on Jul. 24, 2009
Answer by jewjewbee at 8:22 AM on Jul. 24, 2009
Answer by itsmesteph11 at 10:26 AM on Jul. 24, 2009
Answer by SylviaNCali at 1:10 PM on Jul. 24, 2009