Timeline for Will having a secondary signee with bad credit on a mortgage raise or lower interest?
Current License: CC BY-SA 3.0
16 events
| when toggle format | what | by | license | comment | |
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| Jul 6, 2018 at 22:56 | comment | added | Andy | Do not buy a house with someone you're not married to. And never put someone on the title who is not on the mortgage. | |
| Jul 6, 2018 at 22:15 | answer | added | CactusCake | timeline score: 0 | |
| Jul 6, 2018 at 9:30 | history | protected | CommunityBot | ||
| Dec 1, 2016 at 16:49 | history | edited | Pete B. |
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| Aug 25, 2016 at 19:33 | vote | accept | mindfullsilence | ||
| Aug 24, 2016 at 12:39 | answer | added | Pete B. | timeline score: 7 | |
| Aug 24, 2016 at 11:17 | history | tweeted | twitter.com/StackFinance/status/768406799229878272 | ||
| Aug 24, 2016 at 6:18 | answer | added | Dheer | timeline score: 8 | |
| Aug 24, 2016 at 1:26 | comment | added | CQM | @Xalorous its the result of what banks are doing right now based on a combination of macroeconomic pressures and their own internal risk profiles and the discretion of underwriters at the bank. So "lender policy" | |
| Aug 24, 2016 at 0:20 | comment | added | Xalorous | @CQM Is that a legal statue, industry standard, or lender policy? | |
| Aug 23, 2016 at 23:27 | comment | added | keshlam | Please see past answers here about cosigned loans before doing this, so you are going into this with your eyes open about the ways it can go bad. You must discuss in advance who owns what and how you will unwind this if you separate, and you must get a lawyer to put that into enforceable form, or this can very easily become a disaster waiting to happen. When doing business with friends, treat it as business; that's the only way to keep it from destroying the friendship. | |
| Aug 23, 2016 at 23:16 | comment | added | mindfullsilence | @quid I would think having both would either be better, as there's more fallback, or not have an impact. Certainly can't figure out why there's a negative impact though. Unless CQM is right. | |
| Aug 23, 2016 at 22:28 | comment | added | CQM | The lowest credit score is used exclusively. I saw this in a policy document that did an investigation, not in official company or industry credit evaluation documents. This will mean that you get a higher rate, if you get approved at all. | |
| Aug 23, 2016 at 22:09 | comment | added | quid | Would you rather lend to 1) a single short history unknown borrower or 2) a short history unknown borrower and someone proven to be bad at managing debt? | |
| Aug 23, 2016 at 22:07 | review | First posts | |||
| Aug 23, 2016 at 23:05 | |||||
| Aug 23, 2016 at 22:06 | history | asked | mindfullsilence | CC BY-SA 3.0 |