Posted on: 24th Mar, 2010 04:02 am
My wife and I are in the process of buying a home and have a closing date coming up soon. Because of my bad credit, the mortgage/payment, etc. is all in her name, with my name only on the deed. My question is... will my bad credit affect anything at closing? My bad credit is probably 10 or more years old and I'm worried that a judgment may be in there somewhere that I'm not aware of. The loan has been approved, and everything seems ok, but I don't want anything to pop up at closing that we weren't aware of. If the loan is fully approved, are we ok?
Welcome bcochran,
Your name is not included in the mortgage documents. Thus, in my opinion, your bad credit won't affect the mortgage closing in any way. This is because the lender would not check your credit report. Your wife's credit report will be taken into account while closing the mortgage.
Your name is not included in the mortgage documents. Thus, in my opinion, your bad credit won't affect the mortgage closing in any way. This is because the lender would not check your credit report. Your wife's credit report will be taken into account while closing the mortgage.