Posted on: 30th Apr, 2009 01:09 pm
My wife bought a home before we were married. I am NOT on the loan or title.
We are in Nevada a community Property State. She is about 45 days late on mortgage right now as she works with our attorney in the loan modification process.
I am pre approved for 350K in Las Vegas, and am curious if when I go to buy a house in my name only, on a conventional loan, now being married if her situation on her loan will affect me?
I apprciate any info and apologize if I didnt give enough details
We are in Nevada a community Property State. She is about 45 days late on mortgage right now as she works with our attorney in the loan modification process.
I am pre approved for 350K in Las Vegas, and am curious if when I go to buy a house in my name only, on a conventional loan, now being married if her situation on her loan will affect me?
I apprciate any info and apologize if I didnt give enough details
IT SHOULD NOT EFFECT YOU BECAUSE HER DEBT OCCURED BEFORE THE MARRIAGE
If you buy the property and only you are on the mortgage, her loan will not effect you as far as the approval process is concerned. However, it may have an effect on you if together you are struggling to make two payments.
Hi
I agree with Scott and Eric. Since your wife took out the loan beffore your marriage and you are neither on the loan nor on the title, it should not affect you in any way.
I agree with Scott and Eric. Since your wife took out the loan beffore your marriage and you are neither on the loan nor on the title, it should not affect you in any way.