Asked by lady1982, Minneapolis, MN • Thu Aug 25, 2011
my husband bought a house when we got married. the loan is only in his name, he is letting the house foreclose and i will be buying one in my name only. The broker i'm working with told me that i might get the loan denied because they will see that i already own a house and count that mortgage payment agaist me or as part of my monthly expenses. He also told me i should pay off some of my credit cards to be able to get more buyig power and recomended we do a short sale so im not in the hose deed anymore, so we talked to another broker and he told us something else. He said the foreclosure should not affect me since is not in the loan does not have my name. I'm so confuse, now i don't know if we should do a short sale to ge my name out or foreclosure and save more money.
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