Profile picture for bjacoby1

My Wife is a co borrower on a house loan with my mother in law. Can she get another loan

If my mother in law has been paying the mortgage for the last three years. We can even provide proof that my mother in law is paying for the mortgage. We live in Arizona and want to buy a house. I filed bankruptcy but my wife makes good money and has 715 credit score. Any lenders in the Phoenix/Tempe area that can help. Thanks
  • August 03 2011 - Tempe
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Answers (3)

I think there is a shot to do this. I as long as you can show a history of on time payments from your mother in law we don't have to count the debt against you. Give me a call or send me or send me an email. I have done these kinds a deals before when a spouse is out of the old house and is still on the mortgage. 
  • August 05 2011
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Maybe, depends on many other factors.  Before you get yourself a Realtor, talk with a lender.  Start with your local bank if you dont know a good local lender and get pre-approved.  A good lender will not only review where you are at but what you can do to obtain a loan in the future.  If you need to work on things, you can do that and save $ for your downpayment as well.

Best of luck.
Spirit
  • August 04 2011
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Profile picture for Sharon Lewis
Do you have a realtor, if so they can probably introduce you to a local lender who can decide if you wife can qualify for a loan. You might have to take her off the other house if she doesnt make enough to qualify for the new purchase.If you dont have an agent you can click on my name or any other agent on these boards and send you to a great agent.
  • August 04 2011
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