Many loan officers try to work out a loan however they can in order to get paid their commission.

Sometimes couples need to wait to get their credit situation in order.

Bad credit causes mortgage messes when couples go shopping for a home and don't know their whole credit picture.

Even when only using one spouses score to qualify for the loan, it is much better for a couple to make sure that they use the lower income between the two when buying a home.

The article that I came across talks about many couples needing to go with only one spouse securing a mortgage.

"Underwriting guidelines prevent lenders from making a 'real-life review' of a couple's creditworthiness. Only the lower of the 2 credit scores determines mortgage rates.

Forget "Hey, baby, what's your sign?" For anyone looking to buy a house with a spouse someday, "What's your credit score?" may be a better pickup line".

Source MSN Money – Spouse's bad credit causes mortgage mess

The referenced article recommends only using one spouse who has the highest credit score.

When you choose this option the spouse will need the income to complete the transaction.

Sometimes the spouse that is left off the loan feels hurt.

If one spouse is left off the loan they can still sign to be on the deed or title to the property.

In the states of Massachusetts, Ohio, and Kentucky have dower or curtsy laws to protect spouses.

These laws protect spouses from losing property when a spouse dies.

They also protect you from your spouse being able to purchase a property in these states without your knowledge.

A spouse does have the right to sign away their rights to the property.

Before you enter into a marriage each party should know the other persons credit score.

Going in blind can cause problems later on down the road.

One spouse having bad credit causes a mortgage mess as you grow together.

I would advise that married couples look to purchase a home based on the lower income if both are employed.

Many people purchase homes based on both incomes.

If there was a death or divorce were to occur one party could be in a financial mess.

Bad credit can cause a mortgage mess between spouses if you don't prepare before you start shopping for a home.

Getting pre-approved for a mortgage is the best way to begin the process.

Communication is key in relationships.

Bad credit causes a mess when you don't work on rebuilding your credit.

Couples should work together to maintain or rebuild their credit together.

Even when using one spouses credit and income both can be on the deed.

Don't let bad credit ruin your relationship.

Is your spouses bad credit causing mortgage mess???

Your financial coach,

Renee Lawson

Recommended Resources:

P.S. Did you know there's one amazingly simple thing you can do right now to increase your credit score? My new video show your how FREE: www.totalprosperityclub.com.

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