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My partners ex is on his mortgage we are wanting her name off my name on.

His credit is poor mine excellent we have a income of 32000 a year we are wanting a remortgage of 52 thousand is this possible by rebeccapeacock04635 from , California. Dec 3rd 2013 Reply


Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

It is possible, but I would need to know more information: How poor is his credit (score?) Who has been making the mortgage payments (his bank account, yours, joint?) Has the mortgage been more than 30 days late in the last 12 months? Is the current loan conventional, FHA, VA, or other? What is the estimated value of the house? It is usually easier to go over these scenarios directly to make sure that I (or other lender) is properly assesing the options. Feel free to contact me if you wish by email at robhanson@emortgagegroup.com or by phone at 240-752-7549. Please leave a voicemail if I am unable to pick up when you call. Thanks!

Dec 3rd 2013
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He's 35 points off fair his credit IS increasing. He pays the mortgage and has had no late payments.estimated value is 65/70 thousand

Dec 3rd 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,986 contributions

When refinancing, at least one of the original borrowers must remain on the loan. So in theory, dropping the ex is easy. BUT, if he doesn't qualify because of bad credit, we can not just add you based on your good credit.

Dec 3rd 2013
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Probably better to go over precise answers to the questions either by email or phone rather than post some of this information on a public forum. It's up to you... I'm avalable today and tomorrow all day. Thursday and Friday I leave the office early, but am in all morning and early afternoon. Any of those times work for you? If not you can use my email of robhanson@emortgagegroup,com Even if you can't do the financing right now, I may be able to help you figure out a few things to work on to enable it to hapen faster. It may be possible to do using your credit only as well.... depending on all the details. Thanks!

Dec 3rd 2013
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So even if his credit goes up to fair and the increase in his credit score is visible my credit score holds no force ?

Dec 3rd 2013
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

It does if we can possibly qualify you alone for the loan on your income. If not, it still helps, but since his income is needed to qualify for the mortgage underwriters consider the lowest of the borrowers credit scores for qualification. Do you know his exact score or range of scores?

Dec 3rd 2013
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He's 631 I'm 971 I couldn't get the loan I'm not on enough money. He's on a good wage and has spilt paid the bills out of his account for 2 years

Dec 3rd 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,986 contributions

All applicants must meet the minimum requirement. Then assuming a conventional loan, your interest rate is based on the lowest middle score. If he has a 660, and you have an 800 - you can do the loan, but you will pay a higher rate because he has a 660 score.

Dec 3rd 2013
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Many lenders require a 640 or even higher, but I can definitely work with those scores. All the other details need to be looked at, but those scores will not stop me from working with you!

Dec 3rd 2013
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Hey Rebecca... you should probably pick up the phone and call a local mortgage broker.. you're not providing near enough info to properly answer your questions.. Credit scores range from 350-850.. you say you have a 971.. so something is missing.. also, when it comes to credit scores, it's the score that the mortgage loan officer comes up with that will be used to determine your eligibility.. if you got your score from one of those free credit score websites, it's most always not accurate and could be marginally off.. Also, when the lender prices a loan, they use the LOWEST mid score of ALL borrowers.. so with him on the loan, the approval would be based on his credit score, not yours.. Plus, income is considered as well as your debt.. since your married, it's the joint debt that needs to be looked at to determine your eligibility.. again.. you just haven't provided enough info, so I suggest you pick up the phone and talk to a mortgage broker and let him look at your complete scenario.. it's the only way you will know for sure.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's NUMBER #1 lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 3rd 2013
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,823 contributions

Here is your dilemma. The current loan is in the Name of A & B. A (His ex) is no longer part of the transaction and B (your partner) has bad credit (well, maybe not bad, but not good enough). The only way this could be considered a refinance is if either A or B went on to the new loan. Otherwise, any form of financing would be considered a purchase. The real question is related to how bad his credit is and can simple things be done to improve it to an acceptable level. I'd be happy to help and I'm licensed in CA. Just give me a call and I'll do what I can. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Dec 3rd 2013
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I will ring thank you it's been very interesting

Dec 3rd 2013
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