AU on manual underwriting

[bmblbg]

I have been thinking of asking my aunt- who has impeccable credit- to add me as an AU on one or two of her CC accounts.  My goal is to be able to purchase a home by late 2013/early2014.  I know that with my current scores- and giving myself a few months to improve them a lttle more -I should be ok on my own, but the score bump from being an AU would definitely help with interest rates!!

My question is- have any of you heard of or experienced an issue with this "inflated" score on a manual UW? 

[guiness56]

Some lenders will not allow AUs for that reason.  Sometimes if it is a spouse they are ok with it.

[Shogun]

It's called piggybacking, like guiness said, some UWs will discredit them.

[rckstrscott]

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@bmblbg wrote:

I have been thinking of asking my aunt- who has impeccable credit- to add me as an AU on one or two of her CC accounts.  My goal is to be able to purchase a home by late 2013/early2014.  I know that with my current scores- and giving myself a few months to improve them a lttle more -I should be ok on my own, but the score bump from being an AU would definitely help with interest rates!!

My question is- have any of you heard of or experienced an issue with this "inflated" score on a manual UW? 

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My lender required that the AU accounts I had be removed prior to my prequalification... 

Many people indicate they didn't have to remove, but I definitely had to..

-scott

[bmblbg]

Thanks for the responses.  That's basically what I thought....  I'll just drop the idea of AU and keep working on the score!  Thanks again!

[rckstrscott]

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@bmblbg wrote:

Thanks for the responses.  That's basically what I thought....  I'll just drop the idea of AU and keep working on the score!  Thanks again!

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You could just keep it on until they tell you if they need it off.. as mentioned, some lenders totally glaze over it.. plus, AUs are real easy to dispute off as 'not mine' cause they, well, aren't yours

-scott

[bmblbg]

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@rckstrscott wrote:

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@bmblbg wrote:

Thanks for the responses.  That's basically what I thought....  I'll just drop the idea of AU and keep working on the score!  Thanks again!

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You could just keep it on until they tell you if they need it off.. as mentioned, some lenders totally glaze over it.. plus, AUs are real easy to dispute off as 'not mine' cause they, well, aren't yours

-scott

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That's true- good point.  Thanks!