INFORMATION ONA FHA HOME LOAN?

Posted on Aug 30, 2012 in FHA Information

Question by Randy P: INFORMATION ONA FHA HOME LOAN?
WHY DO MY WIFES DEBTS COUNT AGAINST ME WHEN IM TRYING TO GET AN FHA HOME LOAN IN MY NAME .

Best answer:

Answer by AliciaVR6
You must live in a community property state.

http://en.wikipedia.org/wiki/Community_property

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4avg.rating 26 votes.

2 Comments

  1. if you are co listed on any of her debts (ie credit cards, car loans etc) then it will show up on your credit bureau AND ask your loan officer if they are pulling your credit solo or as a married couple. Your loan officer should have explained this to you since it’s their area of expertise.

  2. As a married couple you no longer have yours and mine when it comes to finances according to the government. It is the same when you try to get divorced the court recognizes all the debt you both together and separately incurred as one and to be divided equally.