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@jmbfl wrote:
PenFed does not use HHI. All CC app's are done on the basis of individual income only.
@athensguy wrote:
@jmbfl wrote:
PenFed does not use HHI. All CC app's are done on the basis of individual income only.
I believe they legally must consider the income of a spouse, or am I missing something? Equal Credit Opportunity Act is what I have in mind.
@athensguy wrote:
Then if I apply are they going to discount the big joint account (mortgage) on my CR for their DTI?
It doesn't work that way. The since the mortgage is in joint name you are jointly and severably liable for it. That means each of you are liable for the entire amount. This is the primary reason why joint accounts suck!
athensguy wrote:
Then if I apply are they going to discount the big joint account (mortgage) on my CR for their DTI?
The point was that they allegedly discount my joint income (Joint tax returns), so they should also discount any joint obligations. I will probably just apply on the phone and say "My HHI is $xx" first.
@jmbfl wrote:It doesn't work that way. The since the mortgage is in joint name you are jointly and severably liable for it. That means each of you are liable for the entire amount. This is the primary reason why joint accounts suck!
athensguy wrote: Then if I apply are they going to discount the big joint account (mortgage) on my CR for their DTI?