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.
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.
When refinancing with only one spouse, the options include applying for a new loan in the name of the spouse who has sufficient income and credit, or removing the other spouse from the current loan through a process called a loan assumption or a loan modification.
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.
No
The only way it could possibly affect the former spouse's credit is if you are including debt in your BK that the spouse may be jointly obligated on; regardless of who was responsible for that debt in the divorce decree. It the spouse was not a co-signer on any of the debts you file BK on, then they won't be affected.
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.
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
When refinancing with only one spouse, the options include applying for a new loan in the name of the spouse who has sufficient income and credit, or removing the other spouse from the current loan through a process called a loan assumption or a loan modification.
NO, that would not effect your spouse or partner.
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.
AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.
A prenuptial agreement does not have any bearing on whether credit will be affected.
If you are only on the title, then your credit will not be affected.
Only when the new spouse is applying for credit jointly with the bankrupt partner.
No
No, but if arrears exist, joint assets and credit may be affected.
The only way it could possibly affect the former spouse's credit is if you are including debt in your BK that the spouse may be jointly obligated on; regardless of who was responsible for that debt in the divorce decree. It the spouse was not a co-signer on any of the debts you file BK on, then they won't be affected.