When refinancing mortgage will it reveal credit details to spouse?
My spouse and I are going to be refinancing our mortgage and added me on. I did check my credit and found that I have a good fico score. However, my spouse doesn’t know about a couple credit cards that I have. Will these details be revealed when we go through the refinancing process to him, or is it more important that I just have a good credit fico score enough that any other details won’t be revealed?
The information will not automatically be revealed, but it could come out. How will you explain when he asks “can i see what your report says’? It could also be ab issue, if, when sitting down with the mortgage agent, he goes over the report and says ” your only problem might be these extra cards…”.
So I guess the answer is that it COULD come out, but it won’t necessarily come out.
I won’t comment on the moral implications of hiding things from your spouse.
Does all mortgage companies charge a fee just to consulte you?
I went to a Private mortgage broker company to check my credit and to see what I’m qualified for in a house. They’re charging $900 onto my “future” loan. Is that normal??
NO THAT IS A RIP OFF!!
The most they should charge is a fee for the credit report which could be anywhere up to say $35 which is what they pay to pull your report. They only should get fees once the loan closes and it should be a percentage of the loan amount. Try a different company, good luck!
Is it possible to have an escrow overage and be reimbursed for it?
I recently got a check from my mortgage holder stating they were reimbursing me for an escrow overage of over $100. Is this a scam? Does this happen? Where does the overage come from?
It is possible to have an escrow overage. An escrow account is set up to pay your county taxes and insurance through the mortgage lender. This account is an estimate that you pay on a monthly basis.
In some instances the escrow account might be less than what they have collected. If the lender do not return these funds to you, they are required to add any interest that might accrue on the overage in your escrow account. Since this might be too much book keeping the lender will return any overage to you.
There are times when there might be shortages. At that time the
lender will then ask for additional funds to be added to your account.
This is not a scam, banks do not send checks as a scam.
If you are having a problem with receiving this check call your lender or bank and inquire of them as to what the check was sent to you for. They will take the time to explain your escrow account to you. You should communicate with your escrow department each year to find out if you have an overage or a shortage for planning purposes.
I hope this has been of some benefit to you, good luck.
do all credit card debts show on a credit check?
we want to get as mortgage, my husband has 3 credit cards but only 1 is in use but its at its limit we re worried it will affect our chances of getting a mortgage. so he did a check with experian and equifax online and the debt did not show up im so grateful. does anyone know why it did not show? and when banks do a check can they find it? should we keep quiet about it if banks ask?
Not all issuers report to credit bureaus. There is no law that they have to. Some only report to one or two because it costs them money to be a member of each bureau.
A mortgage company will pull all three reports.
The correct term for “keeping quiet about it” is “making a fraudulent application”. Realistically, they will probably not call the police, but they could turn you down for not being honest and flag you on a watch list.
Besides, I don’t see what you’re worried about. Many people who apply for mortgages have other debts.
Can a mortgage lender verify cancel rent checks?
I need to give my lenders cancel bank checks from the previous year rent history. Can they verify the amount of this checks with my bank. Do they have access to that?
Sorry but Wayne is only half right. Yes a lender can request a verification of rent history from a land lord but if the land lord is an individual, the rent has to be verified with canceled checks.
The lender does not have access to your bank not to mention your bank would never give out your info without your signed consent. The easiest thing to do is call your bank and tell them you need copies of the canceled checks that you wrote for your rent.
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