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Real Estate
Reply to "Mortgage options when one spouse has a good credit score and the other does not"
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[quote=Anonymous]We'd never be able to buy anything more than a tiny TH or condo without both our incomes at this point. We did have to refinance our previous property under just my husband's name when my credit score dropped just below 700 due to identity theft (so, no fault of mine). It was RIGHT after the market imploded and credit was only available to the absolute BEST of the best. Thank goodness we could qualify on just his income at the time. Although, in retrospect, had we gone on with the ARM and our rates had readjusted, they would have been downward. We just had no way of knowing that at the time, so we went forward with the refinance to lock in a reasonable payment just in case. They refinanced in his name, but both both our names were on the title. It did make a couple phone calls difficult when we went to sell, because the bank would ONLY talk to him about account details.[/quote]
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