Posted on: 22nd Mar, 2009 09:43 am
My tenant has low scores , and his wife has a foreclosure in
2007.
Can I put him jointly on the title , show his last
years 12 months payments, credit a portion of his payments
towards the down payment, and get him a mortgage somehow?
He probably has a 600 score.
I was told this may be the fastest way to get it funded.
I'd consider carrying a 2nd from the tenant.
2007.
Can I put him jointly on the title , show his last
years 12 months payments, credit a portion of his payments
towards the down payment, and get him a mortgage somehow?
He probably has a 600 score.
I was told this may be the fastest way to get it funded.
I'd consider carrying a 2nd from the tenant.
Hi gojira,
You can definitely add him to the title of the property. With a credit score of 600, it would be difficult for your tenant to get a loan. But if you are a co-signing the loan with him and if you have a good credit score, then I think he can get a loan.
You can definitely add him to the title of the property. With a credit score of 600, it would be difficult for your tenant to get a loan. But if you are a co-signing the loan with him and if you have a good credit score, then I think he can get a loan.