My fiance still shares a mortgage and coup¨¦ loan beside his ex-wife. How will this affect my credit after we wed?
Additionally, I need to get the mortgage within my name where he and I are currently living. It is surrounded by my ex-husbands name but need my fiance's income and credit to do it. He refuse to "put his kids on the street". At this time, he has not pressed his ex for a refi and told me that he will not. Same with the saloon she drives. Also, my fiance has not filed taxes contained by 2 years. The wedding is in 6 weeks and I am wondering roughly speaking my future financial security.
Answers:
Listen carefully.. DO NOT marry this man until these HUGE financial things are taken care of... This could ruin you...
Lots of things at risk here. The taxes are the biggest issue, although in that is a form you can use called "injured spouse" that will help protect you a touch to keep your share of any tax refund.
The houses are complicated and yes, it is possible that his ex-wife couldn't refinance. However, that should have been taken guardianship of in the divorce. Ask him to show you the divorce decree.
Have you considered selling your house, to win your ex-husband out of his obligation on the loan, and then renting for a while until your fiance get his obligations squared away? You are losing lot in levy benefits by keeping these mortgages in different names this course.
The car is one he absolutely should insist she clutch care of. Unless it is a top of the line hot car, that should be refinanced just to her heading, so you have one less entry to deal with.
I give attention to you need to have a extremely candid conversation about your shared priorities before you attain married, and especially on how you will both support both sets of kids.
What a honourable man.. it's nice to hear that he is taking care of his children.
It's unlikely that his ex-wife is in a position to refi a home and a sports car.
You need to understand that he is not doing this for her, but the best interest of his children. My warning is not to pressure him into having her assume the loan if the mother is not able to do it on her own. He will start to have a feeling as though your are forcing him to make a choice between your new energy and his children. Unfortunately, if he is close to children (which it seems that he really cares for them) you will loose this brawl.
No incentive !.. no one knows the concrete story here. This guys has to pay child-support and probably they have an agreement where he pays support directly on the loan.
If he holds the loan near his ex-wife it does affect his credit.
In this economy is hard to land a second mortgage regardless of income ratio. He's made it clear to you that he is not taking his name off the other loan. So I agree that you guys might be contained by a tight situation.
He needs to file and take-home pay any outstanding taxes prior to your wedding. IRS issues will affect your situation (at some point) if he continues fail to record taxes. If he is owes a large amount of back taxes, they come after his personal property.. run to the IRS web site that is the best source for accurate import tax laws/requirements.
I would keep everything separate for a few years and/or not get married until he is contained by a better finical standing. Source(s): I'm so not trying to be rude..But even after you get married he is not obligated to assume a home loan (which was made between you and your ex-husband). Just approaching you feel you should not take on the burden of loan between him and his ex-wife.
You stipulation to step back and read what you just wrote.. You want him stale the other house loan (where he is taking care of his children) so that he can get on your home loan (so that your children do not become homeless).
I follow that you are worried about your children.. but you are clearly making him choose between his children and your children.
He has made it clear that he will not steal his name off the home where on earth is children live.. you need to take appointments to protect your home.. it's not his responsibility at this point nor after you are married, as long as his contributes money to you to make payments..
Let's do mention your ex-husband. His children are about to loose their home and he is anyone PATIENT.. really shouldn't he be doing something to keep a roof over his children. Seems like he is wanting to push his burden onto someone else dead set against being a man like your fiance..
i would advise against the conjugal at lest til he gets things straight and he prob owes a lot surrounded by taxes
his credit and your credit will remain separate after you are married. If you do a joint loan you may run into problems with his debt to income ratio for a house he doesn't live within and a car he doesn't own. You may be able to achieve around this if it is spelled out in his divorce papers that she is liable for these payments. If she doesn't make the payments, since it is a mutual loan, it will affect his credit. If you are relying on his income and credit for future joint loans this could be a factor to consider. I realize that he is in a tough spot with his children. He may not want to refinance and she have no incentive to try but this COULD cause problems down the road for the 2 of you.
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Answers:
Listen carefully.. DO NOT marry this man until these HUGE financial things are taken care of... This could ruin you...
Lots of things at risk here. The taxes are the biggest issue, although in that is a form you can use called "injured spouse" that will help protect you a touch to keep your share of any tax refund.
The houses are complicated and yes, it is possible that his ex-wife couldn't refinance. However, that should have been taken guardianship of in the divorce. Ask him to show you the divorce decree.
Have you considered selling your house, to win your ex-husband out of his obligation on the loan, and then renting for a while until your fiance get his obligations squared away? You are losing lot in levy benefits by keeping these mortgages in different names this course.
The car is one he absolutely should insist she clutch care of. Unless it is a top of the line hot car, that should be refinanced just to her heading, so you have one less entry to deal with.
I give attention to you need to have a extremely candid conversation about your shared priorities before you attain married, and especially on how you will both support both sets of kids.
What a honourable man.. it's nice to hear that he is taking care of his children.
It's unlikely that his ex-wife is in a position to refi a home and a sports car.
You need to understand that he is not doing this for her, but the best interest of his children. My warning is not to pressure him into having her assume the loan if the mother is not able to do it on her own. He will start to have a feeling as though your are forcing him to make a choice between your new energy and his children. Unfortunately, if he is close to children (which it seems that he really cares for them) you will loose this brawl.
No incentive !.. no one knows the concrete story here. This guys has to pay child-support and probably they have an agreement where he pays support directly on the loan.
If he holds the loan near his ex-wife it does affect his credit.
In this economy is hard to land a second mortgage regardless of income ratio. He's made it clear to you that he is not taking his name off the other loan. So I agree that you guys might be contained by a tight situation.
He needs to file and take-home pay any outstanding taxes prior to your wedding. IRS issues will affect your situation (at some point) if he continues fail to record taxes. If he is owes a large amount of back taxes, they come after his personal property.. run to the IRS web site that is the best source for accurate import tax laws/requirements.
I would keep everything separate for a few years and/or not get married until he is contained by a better finical standing. Source(s): I'm so not trying to be rude..But even after you get married he is not obligated to assume a home loan (which was made between you and your ex-husband). Just approaching you feel you should not take on the burden of loan between him and his ex-wife.
You stipulation to step back and read what you just wrote.. You want him stale the other house loan (where he is taking care of his children) so that he can get on your home loan (so that your children do not become homeless).
I follow that you are worried about your children.. but you are clearly making him choose between his children and your children.
He has made it clear that he will not steal his name off the home where on earth is children live.. you need to take appointments to protect your home.. it's not his responsibility at this point nor after you are married, as long as his contributes money to you to make payments..
Let's do mention your ex-husband. His children are about to loose their home and he is anyone PATIENT.. really shouldn't he be doing something to keep a roof over his children. Seems like he is wanting to push his burden onto someone else dead set against being a man like your fiance..
i would advise against the conjugal at lest til he gets things straight and he prob owes a lot surrounded by taxes
his credit and your credit will remain separate after you are married. If you do a joint loan you may run into problems with his debt to income ratio for a house he doesn't live within and a car he doesn't own. You may be able to achieve around this if it is spelled out in his divorce papers that she is liable for these payments. If she doesn't make the payments, since it is a mutual loan, it will affect his credit. If you are relying on his income and credit for future joint loans this could be a factor to consider. I realize that he is in a tough spot with his children. He may not want to refinance and she have no incentive to try but this COULD cause problems down the road for the 2 of you.
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