My in laws are on the mortgage with me because my husband has bad credit. His income pays most of the mortgage payment. I have heard there was
something where if you can prove he has been paying with me for 12 months on time, he can be put on the mortgage. Is this true? We are in New York and are looking to refinance. It is an FHA loan. I was looking to get my in laws off the mortgage, but my income alone will not allow this.
The straight answer is yes, as Bill Polack explained.
If you can show proof that you have been making payments for 6 months straight without in laws help, you may streamline the loan without them regardless of income (hurry though as streamline loans end November 17th). Your husband doesn't need to be on the loan just add him to title. It doesn't help or hurt you to not have him on the loan.
You may ad your husband to the loan during the refinance aand use your combined income, but you will also ad his credit file to the process. If his credit has not improved you may still have issues with the refinance.
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