RentToOwn-HouseFinder.com
My husband is on contract for a new house but I own a condo in my name....?
that is late 6 months in mortgage payments. My husband showed a Lease to Purchase Option to his lender (for a FHA loan) showing that the condo is being rented out in July so they know he is to live in the new house and is not attempting to buy it to rent it out. Is it likely that the bank will look up my condo details and find out that the mortgage has not been paid even though I am not on the mortgage for the new house (only my husband is)? Unfortunately, not paying the mortgage was the only way to save for a new house.
Public Comments
- they will certainly see that you were behind it may be okay if its current now and all other credit is good
- I don't think they will look up your financial information unless you are on the morgage. If they do, I think they have to tell you and you would be giving them your SS# anyway
- as long as your not applying for the loan for the new house - they won't be looking at your finances but I'd still wrap it all up pretty quick
