Good mortage company that understands mistakes?

2 Responses to Good mortage company that understands mistakes?

1. G Detroit says:

   August 18, 2009 at 2:58 pm

   Virginia

   Your best bet is to buy the home for $130,000 and take a second loan for the additional 60k then once refinished roll them together. Who cares if you arent on the mortgage. As long as you are on the deed, thats all that will trigger ownership. Why do you want to be on the mortgage?

   Your credit will be impacted negatively when you add the mortgage to it. A mortgage will not improve your credit faster than any other type of installment loan. When the credit companies see that you have added more debt your score will go down. The only bad thing about not being on the mortgage is deducting the tax, and interest on your tax returns. I think you can still deduct it though, I would speak with an accountant to figure out how and how much.
2. pixie_vixen117 says:

   August 20, 2009 at 4:11 am

   Ruben

   Since it was a mistake on your record, why haven’t you worked with the bank who reported it and clear it up? It is possible to do that and have them change your credit report. However, it takes awhile and this should have been done as soon as you realized the mistake.

   I know that my fiance’ and I got approved for a home loan even though we were students. We went to a local bank when other banks wouldn’t even look at us. We got in house financing and the mortgage officer was very helpful. She would explain the different types of loans available, which ones we might qualify for and even helped us from having to pay PMI! I would suggest looking at locally owned banks since sometimes they are more flexible then nationwide banks such as Bank of America.

   Why do you want your name on the loan? If it is on the deed, you own it. You could still do it that way and still own the home.