my credit report.
He and I both have excellent credit scores (mine is 793, his about the same). The only debt we have is our mortgage, ONE credit card balance, and what's left on his school loan. The credit card is under my name only, so it would only be on MY credit report. I realize my credit report can be requested by the loan officer and be seen by the loan officer. I'm wondering if I can possibly get through this WITHOUT my husband seeing the credit card balance. I've talked to one person (who works in the mortgage dept of my bank) and she said since everything about our credit looks good (high score, payments being made on time, etc.) that the credit report might not even be mentioned by the officer when it's time to sign papers for the house. I'm in KY, if that makes any difference.
PLEASE HELP.......I know it's my own fault that he doesn't know of the balance. I'm sick about it all and a nervous wreck. Please don't give me the advice to tell him...i just can't.
2007-07-19 10:48:36 · 5 answers · asked by Lissa 3 in Business & Finance ➔ Renting & Real Estate
Although I am one to flip if my husband carries a card balance, I am going to help you out on this one...
When you attend the closing, the credit report is not part of your closing paperwork. Unless the loan officer attends the closing (unlikely) and happens to offer a copy of the report to you (also unlikely)
The ONLY place this debt will be found is on the final "Uniform Residential Loan Application" (also known as the 1003.) This form is about 4-5 pages with grid lines and it will be listed around the 3 page under the liabilities section. Unless your husband reads over the entire package (about 100 pages) it unlikely he will even glace at this section.
By the way..... this form was also signed when you original applied for the loan and he obviously didn't catch it then..:)
2007-07-20 08:48:58 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You will need to tell the loan officer up front (before you go in). Otherwise, he will just bring it out for both of you to look at. I have no idea if the officer will agree, but it's the best advice I have.
2007-07-19 17:52:03 · answer #2 · answered by jdkilp 7 · 1⤊ 0⤋
If your credit score is good then it shouldn't be mentioned. All you are doing is signing papers. I don't even think they bring the report with them. I just bought my home about 7 months ago and they gave us a copy of our reports before we closed.
2007-07-19 17:57:12 · answer #3 · answered by Junior 3 · 2⤊ 0⤋
You should be sick about this, come clean about your debt. It really doesn't matter what kind of advice you want to hear, it is what is best in this scenario. These situations always turn out bad when the other party finds out inadvertantly, and he will find out somehow. They always do. If it isn't now, it will happen later. And you can worry yourself to death everyday until he does.
This is deception pure and simple. When he finds out you have been deceptive about this, he wil wonder what else you can or will lie about.
2007-07-19 18:41:22 · answer #4 · answered by godged 7 · 0⤊ 0⤋
Which would be worse hearing from you, finding out from someone else, or going to use his card and finding that is was denied because of over limit? You did not want to hear telling him but it is the lessor of all evils. Would assume that he will then take them away. A marriage is based on trust and honesty.
2007-07-19 17:56:19 · answer #5 · answered by Pengy 7 · 0⤊ 0⤋