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Posted in Bankruptcy
IF WE ARE BUYING A HOUSE AND HUSBAND HAS BAD CREDIT, CAN I GET IT IN MY NAME USING HIS INCOME TOO?
WE ARE GETTING MARRIED. DUE TO A DIVORCE, I FILED A BANKRUPTCY THAT IS NOW PAID OFF (FILED 2004) AND MY CREDIT SCORE IS NOT GOOD BUT HER'S IS. CAN SHE GET THE HOUSE WE ARE BUYING IN HER NAME AND JUST USE MY INCOME ON THE LOAN?
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CHEERDADDY

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If your income is included,they will want to check your credit scores also,as your income will be considered when repaying the loan!!!

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Response by
foolsgold2

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If one person has bad credit -->>Options

If one person has rough credit, you don't have to wait until their credit report gets fixed to buy a house.  You can do a non-owner occupied mortgage loan with a family member.  FHA allows us to do that - and recently, for folks with at least a 700 credit score, Fannie Mae will allow this as well.  The Conventional loan is a little more difficult, but one of the PMI companies recently made changes that make it easier.

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Eleavor

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