Should You Get A Mortgage Loan In Your Name Alone If Your Spouse Has Bad Credit?
Q: We own an old house that needs 100k worth of work. Should we get a construction loan or a mortgage loan? My husband has a paid IRS lien on his credit report. I have great credit. Should I get a loan in my name only? Should I title the house in my name only? […]
The Real Reasons You Can’t Get a Mortgage
If you missed my segment on ABC News NOW, I discussed the real reasons that you are unable to qualify for a mortgage.
1. You Can’t Properly Document Income
Explanation: You can have an 800 FICO score and $1 million in the bank, but if your tax records don’t show enough income, most banks will deny your loan.
FHA Loan Guidelines
A Facebook fan who is about to get married had asked me whether there is a limit in the amount of income to be able to qualify for FHA. It seems that they were advise to only put the fiance’s name on the mortgage as their combined income would disqualify them from getting the FHA […]
Are Mortgage Help Centers Legitimate?
A Facebook fan has asked whether the National Mortgage Help Center is a legitimate company. I’ve never had any dealings with National Mortgage Help Center, nor have I heard anything about them from consumers or in the media. So I can’t really comment with any authority or insight into whether this particular company is “legitimate” […]
Help For Homeowners Facing Foreclosure
Foreclosure on a home is the worst possible option for both the mortgage lender and the homeowner. Banks do not like foreclosures, for the simple reason that they cost money. For the homeowner, it means both the loss of the house (and place to live) along with a credit record that has been shredded. The […]