Finance question about qualifiing with 2 mortages?

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I have a rental but getting mixed info on if the income can be used to lower my DTI. Also I have an other Mortgage Loan the I Quick Claimed to my ex so I’m on the loan. She cant qual on her own so we agreed to just leave it until she can, but know I want to get into something. I wsa told that if we prove she has responsiblity for all finacial incumbances and provides 12month payment history. It will not be held against me on the DTI.

1 Comment
  1. Reply
    teran_realtor
    May 16, 2011 at 5:05 am

    You will get a variety of answers here – some 100% wrong, some 75% wrong, etc. But most importantly, none of us will lend you the money.

    Ask these questions of the lender who is going to lend you the money. That way, BEFORE you start changing things around and getting needed paperwork for documentation, you actually know what you need and don’t do anything that could make it worse than it already is.

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