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credit has no part in inheriting a house but to refinance or to get a mortgage it does. You will have to get collateral normally be something of value if you default on your refinanced mortgage or your mortgage. Also death tax will be processed on your Inheritances home that was given to you.If you rent the home out to avoid penalties think again. Credit scores in buying a house has a effect on your ability to own a house but not if the home is given to you all you will have to do is take the house over with a trustee of wills that gives you the OK to take the house and you can either live in it or sell it as you wish but remember this the government does tax and they will want their monies!
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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.
If you have bad credit and have someone co-sign on an auto loan will they inherit your bad credit as well?
NO, BUT IF YOU FAIL TO PAY THE BILL on time THEIR credit will go down the drain JUDE KAGABINES LEXINGTON SC
Can you have your name on a house with bad credit?
People who pay for everything in cash have no credit.
Does it effect your credit score when you get married to someone with bad credit?
No, you can get bad credit only if you have a joint (co-signed or authorized user) on the bad person credit card. Keep your accounts separate. If you want to buy a house a lender may require both credits and that is when it would affect you.
How much do you save to buy a house?
It will depend on how good your credit is and what you want your payments to be. If the price of a house is $100,000 and your credit is good and your fico score(this is your credit score) is 660 or higher You will need to put down 5%-10 % or $5,000 - $10,000 plus closeings cost of another 4% or $4,000.00 so if your credit is good you will need to save 9% -15% of the cost of the house you want to buy. Now if you have bad credit, you should clean up your credit before you buy. With bad credit your intrest rate will be high and your house payment will be high.
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.
If you have bad credit and have someone co-sign on an auto loan will they inherit your bad credit as well?
NO, BUT IF YOU FAIL TO PAY THE BILL on time THEIR credit will go down the drain JUDE KAGABINES LEXINGTON SC
Can you have your name on a house with bad credit?
People who pay for everything in cash have no credit.
Are there any books that describe how to get a loan with bad credit?
Yes there is one book called "Living Well with Bad Credit," which goes into detail about how to deal with bad credit to achieve things such as buying a house, start a business and get a loan with bad credit.
You have bad credit and on a pension and have no house can you still get a personal loan or credit card with 6000 limit?
yes
How can one buy a house with bad credit?
If one has bad credit then one can only buy a house if one can convince the mortgage lender that one is able to pay for it. This might need proof that one is paying off any debt and clearing the bad credit record efficiently.
I need a house loan, but how can I be approved with my bad credit score?
At the present getting loan with bad credit is hard. You will need to take some steps to clean up your credit first.
What all does having bad credit effect?
Having bad credit could disable an individual from buying a house or car. Bad credit is usually restrictive on larger purchases that require borrowing money to obtain the item.
How can I buy a house with bad credit?
The best way to buy a house with bad credit is to pay off any collections listed on your credit. Make sure you make all payments regularly for an extended period of time. Try to get prequalified before looking.
What are some tips for a person who is wishing to buy a car with bad credit?
As long as you have cash or a trade in or house bad credit will be diminished. Alternatively you could have a friend or relative help you with their credit if you can come to an agreement.
Does it effect your credit score when you get married to someone with bad credit?
No, you can get bad credit only if you have a joint (co-signed or authorized user) on the bad person credit card. Keep your accounts separate. If you want to buy a house a lender may require both credits and that is when it would affect you.
Does credit score really matter anymore?
Yes, it does matter. Bad credit means you can't buy a house or car and get a loan.
