Added my wife to mortgage. Will that help her estab credit? How long?

[Anonymous]

My wife credit report shows absolutly nothing!  I added her to the mortage, will this will give her a credit rating so she can purchase an auto on credit.  The mortgage is 2 yrs old and clean.  I also recommended she apply for a credit card and keep balance at 10%.

[Anonymous]

Sounds like a plan- if you have any solid TL's add her as a Au- It take 3 to 6 months of reporting to develop a score.

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@Anonymous wrote:

My wife credit report shows absolutly nothing! I added her to the mortage, will this will give her a credit rating so she can purchase an auto on credit. The mortgage is 2 yrs old and clean. I also recommended she apply for a credit card and keep balance at 10%.

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[tknkrov]

how did you add her? I am not listed on our mortgage either and that is one of the things that says it would have a positive impact on my score. I was never put on because of DTI, any advice?

[Anonymous]

I was going to ask this as well- I assumed he re-fied
I was not aware of any other way to do this.

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@tknkrov wrote:

how did you add her? I am not listed on our mortgage either and that is one of the things that says it would have a positive impact on my score. I was never put on because of DTI, any advice?

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[Anonymous]

I added her because when I applied for a 2-28 modification, the bank needed to use her income.

[majesty]

Curious...can you obtain a mortagage individually if married?? Conventional and FHA?

[Anonymous]

Yes - dependent upon dower/curtsey laws in your state (those give an 'automatic' interest in property to the other spouse - very 19th century but some states still have them)  also community property laws can affect holding title.

Message Edited by Lady_Scarlet on 10-31-2007 02:10 PM

[tknkrov]

yes in ID you can that's what we did. Community property state though.

[majesty]

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tknkrov wrote:

yes in ID you can that's what we did. Community property state though.

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Anyone know about CT. ??