Can co-op board ? my credit history if I am not the one applying for a mortgage?
My husband has already had the loan turn through under his name alone.
Answers:
A co-op is a completely different animal later any other type of ownership as such they can require a through background check on any one living in the co-op, and they can deny your husband base upon your background for long as the reason is not base upon a protective class
A co-op is a private corporation, you are being allowed to buy into that corporation with positive restrictions, then those shares you buy equate to a certain element in the building but your ownership is in shares of the corporation and not ownership of a distinctive unit like a condo
They can if you are going to be on the action to the property. The co-op has the right to know about the owner of the property. Another grounds for this is that if you are an owner of the property you are legally responsible for the property. This includes anything that may become a lien on the property.
For example if you are in a state that allows creditors to place a lien on the property and you stop paying your credit card afterwards there may be a lien placed on the property. This is just one example of how your credit could be needed for approval by the co-op.
Good Luck!
Related Questions:
Is in attendance any course to take approved for a mortgage when you enjoy a poor credit ranking?
Go to http://www.nationwidebillrelief.com/homepurchase.html and get quotes from there lenders. If you are below 550-580 you'll inevitability 20% down. Of course. The first thing that comes to mind is putting up a colossal down payment....
Answers:
A co-op is a completely different animal later any other type of ownership as such they can require a through background check on any one living in the co-op, and they can deny your husband base upon your background for long as the reason is not base upon a protective class
A co-op is a private corporation, you are being allowed to buy into that corporation with positive restrictions, then those shares you buy equate to a certain element in the building but your ownership is in shares of the corporation and not ownership of a distinctive unit like a condo
They can if you are going to be on the action to the property. The co-op has the right to know about the owner of the property. Another grounds for this is that if you are an owner of the property you are legally responsible for the property. This includes anything that may become a lien on the property.
For example if you are in a state that allows creditors to place a lien on the property and you stop paying your credit card afterwards there may be a lien placed on the property. This is just one example of how your credit could be needed for approval by the co-op.
Good Luck!
Related Questions:
Is in attendance any course to take approved for a mortgage when you enjoy a poor credit ranking?
Go to http://www.nationwidebillrelief.com/homepurchase.html and get quotes from there lenders. If you are below 550-580 you'll inevitability 20% down. Of course. The first thing that comes to mind is putting up a colossal down payment....