Monday, December 28, 2009

How would you feel about one spouse on loan?

I would like to purchase a home soon and thus far I have no credit problems. My husband on the other hand has credit issues. He has paid on some of his bills but appears to be complacent in the apartment where we are currently living. We have been living in the apartment for 4 years now and I feel it is time for us to start investing in our own. We have talked numerous times about this issue and he constantly says ';next month we will look into buying';. When that month arrives, he set it back another month and it continues. Ladies in a case like this, would you step out on your own and purchase a loan without your husband after you let him know what you are planning on doing? Men how would you feel in a case as I described if your wife applied for the loan without you?How would you feel about one spouse on loan?
i would say that getting a loan without him is dangerous. when he gets around to moving in, you two might have conflicts about the amount you want to spend. i would suggest going to the bank and getting a loan offer. this is like a pre-qualification. they will go over your credit score and how much you make and tell you the maximum mortgage they will give you and your rates. Then you can do some house shopping on the side and will get a good idea of the type of house you can get on your budget. I would really be against you getting a loan and buying a house without your husband's approval. You are technically a couple and this is a major decision, so it should be something you both agree on. Perhaps he doesn't want to move and he would rather save the money, who knows. You shouldn't force him into moving by going behind his back and doing this, even if the loan is in your name. I would pretty upset about it.How would you feel about one spouse on loan?
This is not legal in many states, you need to find out first if you can do it in the first place. If you are in a community property state debt and credit is also part of that and you can't go solo.
Depending on the state yes you can. I had bad credit due to my ex but with my new hubby we wanted a house we bought the condo 4 years ago. When we refided my credit was better and now I am on the deed.

No comments:

Post a Comment