Getting married on Christmas Eve and buying a house…?
Sep.10, 2009 in
Bankruptcy
So my fiance and I decided that we are going to get married on Christmas Eve. I know it’s very soon but we have personal reasons for it and we have been together for 5 years. My problem is this. We are in the process of buying a home, and he has been preapproved but we have not gotten our loan yet. I have just finished filing bankruptcy so my name is not going to be on the house. Will us getting married before we close everything have a negative effect on our loan? I dont want my poor credit and choices to affect things. We are getting a conventional loan not an FHA if that makes a difference. Im sorry if this doesnt really make sense lol, I just have a lot of questions.
September 10th, 2009 at 6:49 am
It depends on if you are in a community property state or not.
If you are community property you will not be buying, as married couple both have to qualify. If you are not he is allowed to buy property that you will not have any rights of ownership too.
If you are married before closing and you are in a community property state he HAS to include your credit, there is no choice.
Community property means community credit and debts, not just assets.
September 10th, 2009 at 6:49 am
He should sign the papers and close on the house before you get married.
September 10th, 2009 at 6:49 am
No. As long as its in his name only, then things should be fine. Be sure to add your name to the title after moving into the home.
September 10th, 2009 at 6:49 am
If the loan hasn’t funded yet it could cause some problems. Different lenders have different rules. This is really something you need to ask his lender. You don’t have to say you are getting married, just have him call and say that he’s thinking about a surprise wedding for you in Xmas Eve, but he’s wondering what the ramifications might be. The lender may be more willing to be upfront about any issues as long as they think there’s no actual plan and it can be changed.
September 10th, 2009 at 6:49 am
Don’t get married until he gets the loan.