Comments on: How can an engaged couple keep credit file seperate once married?

By: DAS

DAS — Sun, 14 Dec 2008 12:07:46 +0000

Lourvd is correct, for now if you are going to purchase a house, you will have to purchase it on your own, and qualify. If your income is not enough then you will have to consider your finacee, and then the credit will merge. I suggest you choose between be able to qualify for the loan yourself, or waiting and straightening out your significant other’s personal credit and then buying it together.

By: Ted

Ted — Thu, 11 Dec 2008 10:01:22 +0000

Each person has their own credit report. It’s a law. The report does not contain marital status. It’s illegal for a creditor to even ask if you’re married.

If you apply for a loan as coborrowers, then both reports get checked. If only one of you is signing for the loan, then only that persons credit will be checked.

By: lovred

lovred — Mon, 08 Dec 2008 15:42:32 +0000

As long as you don’t apply for joint credit, your reports will remain separate. The spouse with the perfect credit will have to earn enough money to qualify for the mortgage, the other spouse’s income can’t be considered. Also, check your state laws, the other spouse may have to sign away their homestead rights.

By: N K

N K — Fri, 05 Dec 2008 11:14:48 +0000

Buy it in your name and your name only. Dont include the other person in the your credit cards. Dont authorize each other on credit cards. You dont have to “report” to all credit agencies that you are married. The one who has perfect credit will assume all the risk. The other one will be an authorized user. If you get divorced, it is a legal mess. The person who buys the house buys it in his/her name. The other one is just an occupant. So are cars and credit cards.

I think you can say you are buying your house for yourself and assuming all the financial risk and/or payment for the house. Your spouse has nothing to do with it.