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282524 tn?1348492612

MONEY PROBLEMS, BUYING HOUSE AND LOANS

me and my husband have been married for 4 years and we have been wanting to buy a house. well the problem is that he only wants to put it in his name and with in 2 or 3 years he will refinance and put my name on the house then. he say that he doesnt want my name on it b/c of my credit score but it is only 30 points less then his, its really not that bad. i am really upset b/c he went behind my back about it and i had to ask him before he would tell me. and its not the first time that he has done this. he has also got a loan from his mom for a motorcycle less then a year ago for $1400, and he has to pay on that for 3 years. and in the past 2 months he got a loan from his bank for another $1400 b/c of his bank account was overdrafted.
so my question is for all the married women, how would u feel and this?
7 Responses
298824 tn?1349958777
I don't know  much about the credit score....if it would affect the rate you get....so if thats his point I could understand......I think its always better to be honest with each other.....then going behind someones back at least your husbands or wifes....I would be mad to...
Avatar universal
I would be feeling as you. The one thing I know is that things are subject to change. You don't know what might happen 2-3 years or what reason he may come up with and then what is done is done. Also if he was so concerned he should have watched his debt and overdrafts causing debt. Loans go against you when you qualify. Depending your credit score I am not sure 30 points could hurt that much or make that much difference. I would call my bank and ask them how much difference it would make. I think you can have you name on the deed and not the mortgage, some have done that because one credit score can hinder the other one in qualifying, I would check on that. If your name can be on the deed then I wouldn't have a problem with that. Truthfully if something doesn't feel right I would make sure it is done right before entering in to it. As much as you want a house, if you get desperate you will settle and accept something you are not happy with and it will eat at you AND then you will be stuck and resentful. Good Luck
make some calls and get informed, then decide the right thing! ( If you need to wait after that, wait, also he will learn that he needs to respect you and consider what you have to say and make the decision together.)He is no longer a single man.
373034 tn?1204157628
You are a married couple and your credit affects him getting a loan wether or not your name is on the deed.  Also to go behind your back is very decietfull especially since he is not responsible.  In my opinion if he is overdrafting and needing to borrow 1400 dollars from his mother he does not need to be buying a house.   Do the two of you have the down payment?   Take a look at a credit score after foreclosure.  Not good.  I would go to a financial advisor before doing anything.  It sounds like you and your hubby could use a bit of advice and maybe then your husband will be more open with you.  Good luck.
254689 tn?1251183640
In addition to these comments, I would like to add that because of the current credit crisis, the breakoff point for being considered good credit by FICA score has risen approx 30 points in the past few weeks.  This being said, I find it very suspicious that your dh would want the house in just his name unless there are extenuating circumstances.  Btw, he shouldn't have to wait two-three years to add your name to the mortgage deed if that's what he really wants to do.  Talk to a reliable loan officer/realtor/banker to get the real scoop on how to proceed.  Good luck!
282524 tn?1348492612
thanks everyone, i have alot to think about and to make some phone talks
282524 tn?1348492612
sorry phone calls
100019 tn?1335923317
I have only known of two instances where the husband didn't want his wife's name on the house and it's because they planned on divorcing their wives and didn't want to have to give them anything.

I don't think it matters.  If your married before he buys the house you still have rights to it.

What a jerk.
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