Mortgages – who owns what debts?

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I live with my GF in an apt. She has over 10k of student loans and is between jobs right now, so I have been contributing some money to pay them so her savings doesn’t run out. (~ 100-200 / month)

My question is, since I’m contributing towards the loan payments, but not legally responsible for them, is this considered “my” debt for purposes of mortgage evaluation? I heard they look at all your loans, credit cards, obligations etc. since i’m not married i’m not legally obligated for someone else’s debts. does it matter, if I only get a mortgage in my name? or do they scrutinize everyone who could be living in a house I want to purchase/get a mortgage for?

1 Comment
  1. Reply
    May 16, 2011 at 5:32 am

    If your name is not on the student loans and your social security number does not appear on any debts then those are not your debts even though you might pay them.

    If you apply for a mortgage loan the only debts the lender will look for are the debts that are on your credit report under your name and social security number. So you need not volunteer any additional information about debts that are not listed on your credit report.

    The lender could care less who is residing in your house and will only scrutinize the person that apply for the mortgage loan to purchase the house.

    I hope this has been of some use to you, good luck.

    “FIGHT ON”

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