1 Person Loan & 2 People on a Title - Posted by tschwab

Posted by River City on November 22, 2006 at 08:44:43:

If something happened to you, it would not hurt your wife’s credit if she applied for a loan without you on it. The only time your credit would come into play on an application made by her is if you were also on the application. Lenders cannot check your credit unless they have a business purpose, which they would not have if she applied for credit singularly.

Did the mortgage company indicate a reason as to why they do not want her on the loan? Does she already have a poor credit history? Is her income difficult to prove?

1 Person Loan & 2 People on a Title - Posted by tschwab

Posted by tschwab on November 21, 2006 at 19:25:52:

sorry if this is a 2nd posting. My wife and I are in the process of a refi. The mortgage company wants to do a 1 person loan and not both of us on the loan. What are the pro’s and con’s of this way to go? Would this be a very big problem if for some reason something happens to the loan holder (me) and how would that hurt my wife’s credit?