Posted on: 24th Apr, 2012 09:43 am
My wife and I are buying a house. She has a higher earning job than I. We both have great credit, but I was unemployed for 6 months at the start of the last two years. Because of this we are getting an FHA loan in her name. Can the lender stop me from getting on the deed?
We both want me to be on the deed. We live in Oregon, a community property state.
We both want me to be on the deed. We live in Oregon, a community property state.
Hi Sporty!
Welcome to forums!
The lender cannot stop you from getting on the deed. The lender can, however, ask you to add your name to the mortgage if your name is on the property deed.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The lender cannot stop you from getting on the deed. The lender can, however, ask you to add your name to the mortgage if your name is on the property deed.
Feel free to ask if you've further queries.
Sussane
You can negotiate how the lender reports the deed in lieu to the credit bureau. The worst is a foreclosure. What you want is unrated, or R0. That is the best. Second best is paid-settlement. Still shows the account as paid. This will not ding your credit too bad. But unrated is best. :idea:
Just add yourself to the loan with no income. I do that all of the time.
