Posted on: 14th Nov, 2008 10:53 pm
my suituation is kind unique from what i have been reading on this post. i bought my house about 2 years ago when i was working, then i got admitted into medical school. being in med school, the government give you loan money to cover education and living expenses and i have been paying mortgage via my loan money. the problem is that now i want/need to refinance (bad rate and high pmi) and i can't because i don't have a job/income.
i want to know whether or not if i add my mother to my deed, will she be able to co-refinance for me. i said co-refinace because she doesn't have a good credit but she is and has been a registered nurse for 15 years, so she has a steady income/job. is it possible to co-refinance because i have excellent credit but no job and my mother has excellent job but no good credit? what can i do to get out of this mess???
i want to know whether or not if i add my mother to my deed, will she be able to co-refinance for me. i said co-refinace because she doesn't have a good credit but she is and has been a registered nurse for 15 years, so she has a steady income/job. is it possible to co-refinance because i have excellent credit but no job and my mother has excellent job but no good credit? what can i do to get out of this mess???
Hi Tina!
I think you should speak to the lender once. May be your mother can become a co-signer as she has a steady income for last 15 years. May be the lender will consider your credit and her income to give you the refinance. But it will be totally the discretion of the lender.
Thanks,
Jerry
I think you should speak to the lender once. May be your mother can become a co-signer as she has a steady income for last 15 years. May be the lender will consider your credit and her income to give you the refinance. But it will be totally the discretion of the lender.
Thanks,
Jerry