2006-07-30 22:55:00 · 5 answers · asked by gezza 2 in Business & Finance ➔ Personal Finance
I am worried that because of my rating we will jointly get declined even though he could get a loan in his own name.
But i would prefer it to be in joint names
2006-07-30 23:14:24 · update #1
Yes it will. You may want to consider putting the loan solely in his name to save money on interest charges. Before you do this, check your credit it may not be as bad as you think.
2006-07-30 23:00:01 · answer #1 · answered by Lamb725 3 · 0⤊ 0⤋
It will not affect him, but it may affect your chances of getting a loan in a joint name.
It used to be that people living in the same house were tarred with the same brush, but this is now not the case. If you find this is a problem then the solution is for one of you to move out (only kidding!)
The only time it will affect him is if you get a joint loan and you 'make' him default on it (somehow!!)
If you get a joint loan and pay everything back on time, thise good news ("white data") should feed through to your record, helping improve your chances in future.
2006-07-30 23:03:17 · answer #2 · answered by izzieere 5 · 0⤊ 0⤋
Been there, done that. Had to pull her off the loan and the deed when I bought the place. Turned out to be a blessing in disguise when she left a couple of years later.
2006-07-30 23:23:37 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Probably would have an effect. I am not sure how, but I think there is a way that you can get your credit rating fixed.
2006-07-30 22:58:50 · answer #4 · answered by peggy*moo 5 · 0⤊ 0⤋
You will be refused , your partner should get the loan in his own name.
2006-07-30 22:58:20 · answer #5 · answered by ♪ GOTH CHICK♫ 3 · 0⤊ 0⤋