Profile picture for user8188861

If I am on the deed but not on the loan that was foreclosed can I still be approved for a mortgage?

My wife and I have recently gone through a foreclosure on our home. My wife was on the loan and I was not. However we were both on the deed. We want to buy a new home. Now I am the only income in the home and would like to get a mortgage for a new home. I have heard that an underwriter can turn me down if I show up in the public records search as having been on the deed of a home that was foreclosed on. Is this true?
  • March 17 2014 - Indianapolis
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Answers (3)

We can submit to underwriting before you find a new home to purchase.  This scenario should be okay and I would be willing to put the work in with underwriting to know 100%.

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  • June 13 2014
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Yes in all fairness you should be able to qualify since the foreclosure will not be on your credit report. Contact me for help. Is your credit above a 620?
  • March 26 2014
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Profile picture for GMerino
That would be a tough to know, but I would think it would come out as they would want to know what you will be doing with your current residence and it really would be underwriter discretion. 
  • March 17 2014
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