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I have two $16,000 personal loans. My husband and I recently reconciled after a 3 yr. separation and have found a home we want to buy. He doesn't know about the loans. I must get them off my credit report or we will not qualify for a home loan. I could only come up with someone allowing me to put the loans in their name. Is that my only solution?

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    Don't buy the house, you can't afford it. – Loren Pechtel Aug 31 '13 at 17:53
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    You owe $32,000, and propose to hide it from your husband. Or keep it hidden. Not a great way to start a renewed relationship. The loan will stay on your credit report up till ten years after its paid off. To Loren's point, if this keeps you from qualifying, you can't afford it. – JoeTaxpayer Sep 1 '13 at 1:18
  • @JoeTaxpayer I encourage you to answer, or if inclined edit your information into my answer. – C. Ross Sep 3 '13 at 16:54
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    $32,000 in personal loans may not disqualify you from a home loan. It's rather a lot of debt to carry, but we have no idea of the OP's income. The 28/36 Rule is relevant here (investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp). – ChrisInEdmonton Sep 3 '13 at 17:03
  • Will you not quality for a home loan? Or will you not quality for the Home loan you want? Debt doesn't bar you from a Mortgage completely. It just means you can't get as large a loan. You should tell your husband about the debt. – meltdownmonk Sep 6 '13 at 14:41
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The short answer is you can't. Even if you paid off both loans today in full, they would remain on your credit report for a number of years, because they are part of an accurate picture of your financial record.

I would strongly suggest telling your husband about the loans. When I received my mortgage the loan officer told us that he often had spouses find out about debt in his office, and that is not the recommended way to communicate it.

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    I can't emphasize this enough: When I received my mortgage the loan officer told us that he often had spouses find out about debt in his office, and that is not the recommended way to communicate it. – George Marian Sep 2 '13 at 21:29
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    You can't get them off of your credit report because they are an accurate picture of your financial record. Only inaccurate items can get removed legitimately. – Alex B Sep 3 '13 at 16:51
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    The length of time that a loan remains on your credit report varies significantly by jurisdiction. Even countries with fairly strong privacy legislation will allow the information to stay on for several years, mind you. – ChrisInEdmonton Sep 3 '13 at 17:01

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