This came in today:<\/p>\n
\nMy Mortgage Broker told us; because of my low credit score (Low 600) and my husband’s higher score (High 600) — he wants to not include me on the mortgage, but put me on the title as a owner. This would mean the mortgage will not show up on my credit.<\/em><\/div>\n
\n<\/em><\/div>\nCan this work? If so, what are the pros and cons???<\/em><\/div>\n<\/blockquote>\nThat sounds completely plausible. I would caution you that your addition to title is most likely post closing. If so, your husband would be technically violating the loan covenant he signs with the lender. It’s not a violation that is going to end him up in jail.<\/strong> A technical violation could result in default, which could start the foreclosure process.<\/div>\n<\/div>\nYour husband on the loan (and title) will most likely give you a loan with better terms, Excluding you from the loan may be the best option at this time. My advice would be to proceed with the mortgage broker’s recommendation, attack and cure the issues which affect your credit score, and petition the lender to add you to the loan at a later date.<\/div>\n","protected":false},"excerpt":{"rendered":"This came in today: My Mortgage Broker told us; because of my low credit score (Low 600) and my husband’s higher score (High 600) — he wants to not include me on the mortgage, but put me on the title as a owner. This would mean the mortgage will not show up on my credit. […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1528","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":11580,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11580\/will-pre-approval-letters-be-banished\/","url_meta":{"origin":1528,"position":0},"title":"Will Pre-Approval Letters Be Banished?","author":"Brian Brady","date":"March 17, 2010","format":false,"excerpt":"Score one more screw up for the Government-Banking Complex...and watch mortgage brokers thrive because of it. Andrew Duncan of Keller Williams in Tampa, FL reprinted a Mortgage News Daily story: As part of the changes to the Real Estate Settlement Procedures Act, borrowers can no longer shop for a home\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1318,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1318\/ask-the-mortgage-broker-how-do-i-become-a-hard-money-loan-broker\/","url_meta":{"origin":1528,"position":1},"title":"Ask the Mortgage Broker: How Do I Become A Hard Money Loan Broker","author":"Brian Brady","date":"April 18, 2007","format":false,"excerpt":"Brian Brady of World Wide Credit Corporation will be offering a free conference call and presentation: \"How to be a Hard Money Loan Broker \" Tuesday, April 24, 2007 4:00PM Pacific Daylight Time (7:00 PM EDT) SIGN UP IN THE COMMENTS SECTION (8 spots available) . Make sure that your\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":602,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/602\/ask-the-broker-who-is-responsible-for-the-mortgage\/","url_meta":{"origin":1528,"position":2},"title":"Ask the Broker: Who is responsible for the mortgage . . . ?","author":"Greg Swann","date":"November 4, 2006","format":false,"excerpt":"Holy smokes! I get questions for appraisers, for inspectors, for real estate attorneys, for everyone involved in a real estate transaction except the ding-dong Realtor. Here comes a question for mortgage lenders, who are entreated to chime in with better answers:Generally speaking, are homeowners personally liable for their mortgage? If\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12260,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12260\/how-mortgage-originators-will-be-compensated-by-borrowers-under-the-financial-regulatory-reform-act-of-2010\/","url_meta":{"origin":1528,"position":3},"title":"How Mortgage Originators Will Be Compensated By Borrowers Under The Financial Regulatory Reform Act of 2010","author":"Brian Brady","date":"June 14, 2010","format":false,"excerpt":"Want to \"finance your closing costs\" but are confused about the disparity in offered mortgage rates?\u00a0 You might have to thank the Financial Regulatory Reform Act of 2010 (H.R. 4173) for limiting your ability to structure your loan fees.\u00a0 Read pp 1486- 1490, specifically Section 9903 of the Bill; Prohibition\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1537,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1537\/ask-the-broker-whats-up-with-my-apr-and-why-is-it-so-different-from-my-interest-rate\/","url_meta":{"origin":1528,"position":4},"title":"Ask the Broker: What’s up with my APR, and why is it so different from my interest rate?!?","author":"Morgan Brown","date":"June 13, 2007","format":false,"excerpt":"Hot out of the broker oven mailbox today is this question: I am in the process of refinancing. 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