Spouse behind on a payment? Now what?

[FSUGAPEACH]

I'm asking this question for my brother: His wife has a home in her name solely and recently missed 1 payment which was reported as 30 days late. It was an oversight and payment was made from wrong account. Now my brother is going to be purchasing a home in his name solely in late spring. His scores are great and the only derogatory information is from 3 years ago when he had a short sale in Florida. Perfect credit since then. Since his spouse will not be in the loan how will it work when they want to verify his rent? Will they ask for his wife's mortgage payment history or what? Help!

[CS800]

I'm pretty sure that if he is the only one buying the house and it will be on his name only, he doesnt have to worry about his wife's credit.

If they were doing a joint purchse, then it might be an issue. Still a 30 day late is not that big of a deal. You can explain it to the underwriters that it was an oversight. He will also have to explain the reason of his short sale.

If his scores are good, he doesnt have major deragatories (collections etc) and he has the funds, I dont forsee a problem.

[webhopper]

The wife may be able to ask for a GW adjustment to her payment history, since it was indeed an oversight and a mistake... I once paid the wrong amount, my aunt had died that day, and I paid 82 dollars less than what I was supposed to.  My lender didn't care because the escrow had plenty to cover my accidental shortage.  Maybe the wife can contact her mortgage provider?   Either way, her history won't affect his ability to get the mortgage.

[Booner72]

it wont' matter.  They will probably pull her credit just to make sure he's not on a house that he owns w/ her or anything, but since he's not on the loan and she's not on his loan, it is nothing to sweat about.