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HELP....

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Anonymous
Not applicable

HELP....

So ive worked VERY hard to come from a 490 to a 620 and finally the time is here!! 

 

BUT..... sadly in the process ive gotten a new car a personal loan and opened up some credit cards. Cards are all paid zero balances, however with the car debt and personal loan debt I am not qualifying alone on my mortage DTI wise :-( My spouse is shortly behind me however has a tax lien to clear up so he cant be on the loan, but with half of his income included in my profile we would be PERFECT !!!  Anyone have any ideas anbout this? I hate to let the dream house fall in the cracks beacuse of DTI and his inability to be on the loan.. ALSO with FHA do you know rules on owing IRS? if you are in an arrangement and there is no liens your ok, right ? The guidelines are so confusing !!!!!!

Message 1 of 3
2 REPLIES 2
jadeite788
Established Contributor

Re: HELP....

From my understand Tax Liens are public records.  If it is not on your credit report as a public record, then I think you should be fine.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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Message 2 of 3
JM-AM
Valued Contributor

Re: HELP....

If payment arrangements are made and you can prove it you are fine. But his scores will impact your approval also.

Reality is if your DTI is to high alone you will need his income pending his debt isnt to high also.

You need to work on his scores and keep working on your scores and bring them up. In the meantime try and pay off the car loan or personal loan as much as you can. Work on one of them at a time. Whichever has lower balance try and eliminate it.
Good Luck
May all your dreams and wishes become a reality!
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