Wife's bankruptcy...will it hurt me in RE loan? - Posted by jim jr

Posted by Dave T on July 24, 2003 at 07:02:54:

You better believe it! Take it from experience. Purchase real estate under your name only.

Wife’s bankruptcy…will it hurt me in RE loan? - Posted by jim jr

Posted by jim jr on July 24, 2003 at 05:09:47:

Hi all, I normally post over on the mobile home board but plan on buying a duplex in the future and have a question. Can anybody tell me if my wife’s bankruptcy will hurt me when trying to qualify for a RE loan? Here are the facts: We both get out the Air Force in a few years. We will be leaving Turkey and going back to the states for a little bit afterwards. While we are in the states, I want to use my VA loan to buy a duplex. We will live in it for a while, then move and rent both sides out. The problem is my wife filed bankruptcy before we got married? Will that affect my credit even though it was before we were married? Also, could I get the loan without including her on it? There is nothing wrong with my credit, and I am doing things to improve my score little by little, until I leave here. Any info would be greatly appreciated.

Thanks, --jim jr

Re: Wife’s bankruptcy will it hurt me in RE loan? - Posted by Rafael

Posted by Rafael on July 24, 2003 at 08:53:54:

Jim, Its a VA loan. Its insure by the Feds. if one of you has at least good credit and a job for more than 2 years on the some job (air force? heck yea) then you good to go!

Get a good morgage broker if the banks you go reject you!

I bough my house w/ my wifes job I was unemployed and my credit or hers wasnt so good plus I was $30k in debt. We had hard time geting a loan but we are doing it.
Much luck!