On her mortgage during her refi but the company that did it added me on as quikclaim or something like that and the mortgage doesn't show on my credit. Should we get this fixed so it does show or should I leave it alone as I'm trying to get my own townhome. Or is it worth it as it could improve my credit?
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
A quitclaim is a type of deed. Sounds like your mom added you to the title, not that you were on the loan. I don't think the loan will report for you. And you wouldn't want it to if you are preparing to buy your own townhome. If the loan reports for you, they would factor that into your debt to income ratio and it would effect the amount of house you could afford. Plus, depending on the LTV on your mom's home, that could cause problems in your approval as well.
LTV?
LTV = Loan to Value. If you don't have a lot of equity in one home that you own, it might make a lender nervous about approving you for a second home.