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Hi,

My husband is in the process of buying a house. I am not on the loan, but they do check my credit because Nevada is a community property state. If I have a chart off on my credit report, will he be required to pay it off to have the loan approved. He has already been preapproved.

 

thanks

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2 hours ago, Melicious said:

Hi,

My husband is in the process of buying a house. I am not on the loan, but they do check my credit because Nevada is a community property state. If I have a chart off on my credit report, will he be required to pay it off to have the loan approved. He has already been preapproved.

 

thanks

It is entirely possible that the under writers could want that charge off paid before they approve the mortgage since it could become a lien on the property.   

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5 hours ago, Clydesmom said:

It is entirely possible that the under writers could want that charge off paid before they approve the mortgage since it could become a lien on the property.   

Not surprised if that's the case. But, technically,  it would depend on the nature of the debt, when you accumulated it, and the exact way in which the real property is held (not the loan) that would determine whether your debt could legally affix to the property.

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