Posted on: 30th Nov, 2008 07:35 am
Me and my husband seperated a year ago we did a deed in lieu which was through the VA the loan is under his name but hte title was signed by both will it have a negative impact on my credit score and can I try to purchase a home on my own
Hi therock!
Welcome to forums!
As your name is only on the title of the property, your credit will not be affected. Yes, you can try purchasing a home on your own provided your credit score and income are good.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As your name is only on the title of the property, your credit will not be affected. Yes, you can try purchasing a home on your own provided your credit score and income are good.
Feel free to ask if you have further queries.
Sussane
I asked before about the deed in lieu, why did they say when they pulled my credit it shows that i was part owner but on one of my credit reports its not even listed. I am so confused and I want to purchase a home again by myself. If it was a VA loan there is no way that I was responsible even if I signed the paperwork to get my name on the title is that correct or not I am in OHIO
Hi therock
I am surprised as to why it is not listed in one of the credit report while other reports are showing it. And as far as I know, if you were not on the mortgage but only on the title of the deed, then a deed in lieu foreclosure should not affect you. It will affect your husband who took the loan.
Thanks.
I am surprised as to why it is not listed in one of the credit report while other reports are showing it. And as far as I know, if you were not on the mortgage but only on the title of the deed, then a deed in lieu foreclosure should not affect you. It will affect your husband who took the loan.
Thanks.
Someone responded to my question and i am still not clear about this. So if I look on my experian credit report and the deed is not showing does that mean I should be okay to apply to purchase a home?
Welcome therock,
If the mortgage on the property (on which deed in lieu took place) was not in your name, then I don't think the deed in lieu will anyway affect you. It should not even be listed in your credit report. In that case, you can definitely apply to purchase another home. But if you were responsible for the payments of the mortgage, then the deed in lieu will be listed in your credit report.
If the mortgage on the property (on which deed in lieu took place) was not in your name, then I don't think the deed in lieu will anyway affect you. It should not even be listed in your credit report. In that case, you can definitely apply to purchase another home. But if you were responsible for the payments of the mortgage, then the deed in lieu will be listed in your credit report.