Q. I got married the middle of 2012. My husband has good credit and is trying to buy a home using only his income. I have bad credit and want my income excluded. will our 2012 tax filings require my income to be considered? what options do we have to ensure only his credit and income are used?
A. The loan officer from the lender you are going to use will know the best way to proceed. Every mortgage has to go through ‘underwriting’. That is an internal review process where your ‘file’ gets scrutinized to make sure everything complies with the secondary market (that’s where your mortgage company sells your loan after). So, your loan officer, being familiar with ‘what they want’, can give the best direction.