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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.
What else can I help you with?
What is unsecured personal indebtedness?
Unsecured personal indebtedness is debt that is not secured against an asset. For example, a mortgage is a debt secured against an asset, being a house. If you fail to pay your mortgage, your house will be taken of you. An unsecured debt is that of a loan or credit card bill which is not backed up by an asset.
How does a reverse mortgage affect the credit score?
eliminates the old mortgage, otherwise no effect
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
Does paying off your mortgage early affect your credit score?
Yes, it would help your credit score.
What are some FHA mortgage requirements and how does credit affect the amount of loan you are able to get?
Some FHA mortgage requirements are being employed and having a decent credit score. Your credit doesn't affect the amount you can be loaned as much as how much money you make.
What is unsecured personal indebtedness?
Unsecured personal indebtedness is debt that is not secured against an asset. For example, a mortgage is a debt secured against an asset, being a house. If you fail to pay your mortgage, your house will be taken of you. An unsecured debt is that of a loan or credit card bill which is not backed up by an asset.
How does a reverse mortgage affect the credit score?
eliminates the old mortgage, otherwise no effect
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
How does my credit affect the mortgage rate I can expect to get?
Your credit rating will affect whether or not you can actually get a mortgage. Those with bad ratings may not get a loan from a bank. A great site for checking mortgages is moneysupermarket.com
Does paying off your mortgage early affect your credit score?
Yes, it would help your credit score.
What are some FHA mortgage requirements and how does credit affect the amount of loan you are able to get?
Some FHA mortgage requirements are being employed and having a decent credit score. Your credit doesn't affect the amount you can be loaned as much as how much money you make.
What happens if the wife is on the mortgage and not on the note and the husband dies?
If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.
How does having bad credit affect my mortgage payments?
If you have bad credit you will not only have a hard time getting a loan, but you will be charged a higher APR. As a result, your mortgage payment will be higher than if you had good credit. If you already have a home mortgage, having bad credit will not affect it. If you have bad credit and go to get a mortgage, you run a risk of being denied a loan until bad debts are taken care of and even then you may have a higher rate.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
If there is a lien on a house but someone else is on the 2nd mortgage does it affect their credit also?
yes, only if the second mortgage does not get paid.
How does a 30-day late payment on a mortgage affect your credit?
If you are trying to refinance your mortgage... it will affect the interest rate. (it will be higher) It will haunt you for at least 12 - 24 months.
What are the risks associated with investing in a mortgage credit swap?
Investing in a mortgage credit swap carries risks such as potential default of the underlying mortgages, changes in interest rates, and market volatility. These factors can lead to financial losses for investors.
