I have bad credit and I want to buy a home in the next two years?
Dec 04, 2009 in
Personal Finance
cj
I personally have bad credit. My husband, who I have been married to for over a year, is now in the process of getting his green card (he’s from Australia). Now when he gets his SS# will my bad credit go onto his record? If not when we are ready to get a home would he be able to get a mortgage alone with just being a new legal resident? If he does inherit my bad credit is there a way to get a mortgage while we are trying to fix my credit? if so how?
I personally have bad credit. My husband, who I have been married to for over a year, is now in the process of getting his green card (he’s from Australia). Now when he gets his SS# will my bad credit go onto his record? If not when we are ready to get a home would he be able to get a mortgage alone with just being a new legal resident? If he does inherit my bad credit is there a way to get a mortgage while we are trying to fix my credit? if so how?
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3 comments
kristakay55 on December 6, 2009 at 9:07 am
get yourself out of debt and rent in the meantime. when you’re ready to put all or at least most of the mortgage down in cash, then do it.
being in debt = being a slave to someone else
mortgage is debt. debt sucks.
go to daveramsey.com
ATHENS LANDLORD 7148 on December 9, 2009 at 8:55 am
Unless you put him as a authorize user on your accounts , your credit wont affect him. Now if he puts you on his accounts and his credit is good, yours will get better too over time. I would recommend pay down and dispute the things on your credit. I did it and glad that I did. My wife said pay it or dispute it. I disputed and won some of the judgements.
Halcyon on December 12, 2009 at 1:04 pm
Its best to build your credit scores separately. You may need to joint credit for your home if you need both your incomes to qualify.
If I were you, I would wait for him to get his green card and build credit and then go about buying a house together.
For more info I strongly suggest you buy this book.
It will not only teach him how to build his credit but also help you guys understand why you should keep your credit separate and much more obviously.