Posted on: 02nd Jun, 2010 06:47 pm
my husband is going through forclosure on his home in california. i am not on the loan and we did a quit claim deed for the mortgage so i am not on the title. i have a 720 credit score, a 30% down payment, and a solid work history and reserves in the bank. will i have a problem getting a mortgage on my own? i don't want him involved at all. i want a conventional 30 year fixed mortgage. this property is in texas. i really appreciate your feedback. thank you!
Welcome melissainwonderland,
You have mentioned that your name is not on the mortgage or on the property deed. In that case, if your husband's property goes through a foreclosure, then your credit won't be affected. Thus, you will be able to apply for a mortgage on your own. Depending upon your credit score, income, debt to income ratio, etc., you will be able to get a mortgage.
You have mentioned that your name is not on the mortgage or on the property deed. In that case, if your husband's property goes through a foreclosure, then your credit won't be affected. Thus, you will be able to apply for a mortgage on your own. Depending upon your credit score, income, debt to income ratio, etc., you will be able to get a mortgage.