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Does foreclouse affect the spouse credit who is not on the mortgage?
Wiki User
∙ 13y ago
No. A foreclosure affects only the borrower and anyone else who signed the mortgage.
No. A foreclosure affects only the borrower and anyone else who signed the mortgage.
No. A foreclosure affects only the borrower and anyone else who signed the mortgage.
No. A foreclosure affects only the borrower and anyone else who signed the mortgage.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoNo. A foreclosure affects only the borrower and anyone else who signed the mortgage.
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If you are about to get married and you are filing Chapter 7 bankruptcy will this bankruptcy affect your spouse in any way after the marriage?
It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.
Will bad credit rating of your spouse affect your qualification for a mortgage?
Not if you don't use your spouse on the application as a co applicant or "additional income". If you don't need their income, then leave them off and no, it should not affect.
If you join into a mortgage as a spouse but are not liable for the underlying indebtedness will this affect your credit rating?
You need to discuss this issue with an unbiased professional. If you "join into" a mortgage you are indeed liable for the underlying indebtedness. Otherwise the lender wouldn't ask you to sign the mortgage. If the mortgage goes into default it will not only affect your credit rating but the lender can go after you for payment.
Will a spouse's bad credit affect your credit in a community property state?
Yes. If you are married and your spouse has bad credit, you inherit that bad credit and depending on the state, you can inherit half the debt if you divorce. * No, debts incurred before marriage do not affect a new spouse's credit report even in CP states. Problems could arise however, if the couple apply for a joint line of credit such as a mortgage.
Does your spouse's credit score matter when getting a mortgage?
If your spouse is going to be on the loan, then yes it does matter.
If you are about to get married and you are filing Chapter 7 bankruptcy will this bankruptcy affect your spouse in any way after the marriage?
It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.
Will bad credit rating of your spouse affect your qualification for a mortgage?
Not if you don't use your spouse on the application as a co applicant or "additional income". If you don't need their income, then leave them off and no, it should not affect.
If you join into a mortgage as a spouse but are not liable for the underlying indebtedness will this affect your credit rating?
You need to discuss this issue with an unbiased professional. If you "join into" a mortgage you are indeed liable for the underlying indebtedness. Otherwise the lender wouldn't ask you to sign the mortgage. If the mortgage goes into default it will not only affect your credit rating but the lender can go after you for payment.
Will a spouse's bad credit affect your credit in a community property state?
Yes. If you are married and your spouse has bad credit, you inherit that bad credit and depending on the state, you can inherit half the debt if you divorce. * No, debts incurred before marriage do not affect a new spouse's credit report even in CP states. Problems could arise however, if the couple apply for a joint line of credit such as a mortgage.
Does your spouse's credit score matter when getting a mortgage?
If your spouse is going to be on the loan, then yes it does matter.
Will your spouse's credit score be affected if your individually owned property is foreclosed spouse's name is not on the deed?
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
If you have bad credit will it affect the credit score of your spouse?
Your credit standing alone won't affect your spouse's credit. The only way your spouse's credit would be affected along with yours is if you jointly hold accounts and then fail to pay them.
How do you add your spouse to your mortgage deed?
You will have to ask your banker. You can't always. The spouse's credit may not be good enough.
Does wife credit card affect husband?
If a spouse has a credit card in their own name & the other spouse isn't listed on it, bad credit won't affect the second spouse. But, if you both apply for a loan or other credit - the credit bureau will check both parties credit reports.
Can you add the spouse's name to the mortgage paperwork?
You can add your spouse to the mortgage by refinancing in both of your names. Your spouse does have to be credit-worthy. Check with your original lender to see if it can be done simply without a full fee for refinancing.
If your spouse co-signs for someone will it affect your credit too?
No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.
How will refinancing rates be affected if a spouse with a low credit score is added to the policy?
Let me answer the question this way: the addition of somebody with low credit can't help a mortgage application, and may kill it. A lot depends on the mortgage being applied for (all mortgages have, as a criteria for acceptance, a range of acceptable credit scores) and how low, in fact, the spouse's credit scores are. Talk it over with the professional handling your mortgage. If, for instance, you need to add the spouse for income reasons, you might be better off to get a different sort of mortgage. Good luck.
