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07-26-2012 12:09 PM
We are trying to purchase a house by the end of September and will probably be going FHA due to scores. I have had several mortgages in the past but the most recent one was in 2006 and I got a little behind and ended up selling the house before things got worse. It was paid off in full (no short sale-foreclosure) in September 2006. I moved into my now Husbands house in June of 2006 and since he owned that home before we were together we just kept the mortgage in his name. The mortgage is still in his name and he is in a Chapter 13 and we just included the mortgage payments into that. We were not late or anything and havent been we just worked it out that way. The Chapter 13 is in his name only & come out of his check every other week. I am going to do the loan on my own but have no way to prove any rental/mortgage payments. What can I do about this and will FHA even care what my residency history is?
07-26-2012 05:20 PM
They are going to know you live in your husband's house.
07-26-2012 06:18 PM
are you selling the current home?
buying a new one?
bk trustee approves of this?
hubby can still get an FHA loan if he has 12 months on time payments with the court.... and trustee approval for the purchase.
rent/mortgage verification is not required usually. but if you mark 'Own' instead of rent on the application, then you will be asked a lot of questions.
not marking correctly would be mortgage fraud, a federal crime.
07-26-2012 07:22 PM
07-27-2012 06:22 AM
Yes, we are selling my Husbands home and will be buying a new one. We have permission to sell from the Trustee but don't really want to deal with a hassle of getting a trusteee approval to purcahse so we are just going to buy in my name only. I guess my LO could check the "other" box. My only worry is proving our mortgage payments since they are auto dedeuct fromthe BK and I really don't want to drag his BK into the loan process.
07-27-2012 06:29 AM
It is not a community property state. I am just worried if they ask me to prove proof of payments on my residence. I am sure the Mortgage Company can show it but it doesnt come out of our Checking Account.
07-27-2012 06:33 AM
but don't really want to deal with a hassle of getting a trusteee approval to purcahse so we are just going to buy in my name only.
You have a hassle on your hand one way or the other.
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