Posted on: 16th Mar, 2010 05:02 pm
While helping a good friend out during a divorce I allowed him to deposit his money into my account. I made him a signer on the account so he could deposit or withdraw his money when ever he needed it. Now I have qualified for a FHA loan an trying to purchase a home. Is his income in my account going to affect me getting the loan if I write them a letter telling them how much money he has put in there an why he has put it in there. How can i explain this to the lender so I wont lose the loan. His divorce was final just a couple weeks ago now he can go open his own account can i still get the loan.
Welcome meaganwebb,
You will have to speak to your lender about the bank account and let him know about your situation. If the lender agrees to consider your situation, then you won't face any issues in getting a mortgage. However, if the lender is not ready to consider your situation, then you would have to ask your friend to open a new account.
You will have to speak to your lender about the bank account and let him know about your situation. If the lender agrees to consider your situation, then you won't face any issues in getting a mortgage. However, if the lender is not ready to consider your situation, then you would have to ask your friend to open a new account.
You must have to consult with your lender for this follow to Adonis's advice.
Thanks..
Thanks..
