Posted on: 13th Jan, 2009 05:15 pm
if i get a co-signer for a mortgage will they find out about my bad credit?
Michelle,
My advice to you is to be up front about EVERYTHING. My advice to anyone who is thinking about co-signing a loan is...DONT DO IT.
Finally, if you are needing someone to co-sign because you cannot qualify for the loan on your own with your income, then DONT DO IT. The reality is there will be a good chance that you may have problems making your payments. Nothing good can come from that.
My advice to you is to be up front about EVERYTHING. My advice to anyone who is thinking about co-signing a loan is...DONT DO IT.
Finally, if you are needing someone to co-sign because you cannot qualify for the loan on your own with your income, then DONT DO IT. The reality is there will be a good chance that you may have problems making your payments. Nothing good can come from that.
Hi michellecornelius!
Welcome to forums!
I agree with Eric. Inform the lender about your credit situation. Moreover you should remember that before approving a loan to you, the lender will check your credit and come to know about your credit history. In my opinion, you should first try and improve your credit and then apply for a loan. Check out the following link to know about how to improve your credit:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I agree with Eric. Inform the lender about your credit situation. Moreover you should remember that before approving a loan to you, the lender will check your credit and come to know about your credit history. In my opinion, you should first try and improve your credit and then apply for a loan. Check out the following link to know about how to improve your credit:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
