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Bought a house

So I just bought a house. Me and my hubby have a pre-nup to protect me from his debt, lol, seriously, he has a lot of debt and the only way I would marry him is witha pre-nup because at the time I was a college student, had loans in my account to cover tuition, and I was afraid they would empty my accounts. Anyway. The pre-nup does not effect the buying of this 'starter-home' but I didn't put him on as a buyer because his credit would get us denied. Now I'm wondering if I can add him on as an owner after the fact, it could probably help his credit?

He still has owner ship, just because he's my husband, but he doesn't have his name on the papers so it is not effecting his credit at this point, and it's effected mine so far positively so I figured....

 
Anonymous

Asked by Anonymous at 10:28 AM on May. 28, 2011 in Home & Garden

This question is closed.
Answers (3)
  • No, you can't add him on. We're in the same boat, but no pre-nup or debt - I just didn't have any credit, so I couldn't be on anything. They wouldn't put me on the paperwork because I'm not on the mortgage. Once it's paid off, he can add my name to the deed, but they won't do anything before it's paid off since the mortgage is only under his name. Sure, it would help my credit too, to be on the mortgage, but it doesn't work that way.
    Anonymous

    Answer by Anonymous at 10:45 AM on May. 28, 2011

  • You can check into putting him on the deed, but to put him on the mortgage so he is also responsible for the debt would require you to refinance.

    RyansMom001

    Answer by RyansMom001 at 10:32 AM on May. 28, 2011

  • You will have to call your mortgage company and see if they will add him on. Just be aware that if his credit is still bad, they could put liens on the house once they see his social security number has been picked up with a mortgage. And if the debts aren't paid when you go to sell the house, they can take that money off the top. If you are paying them down, I wouldn't worry too much, but still keep an eye on his credit because they tend to be sneaky anyway.

    Putting him on the loan will probably hurt his credit at first, but then as time goes on will help. The debt/income ratio takes a plummet and getting a sizeable loan actually makes your credit score go down for a couple of months. Not to worry though, after a couple of months it will rise higher than it was originally.

    Enjoy your new home and congrats!!!
    attap5

    Answer by attap5 at 10:33 AM on May. 28, 2011

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