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From the Internal Revenue Service website: Community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. I've seen this list on many unofficial websites, I merely post this here because it's official, I found it by typing community ...
"The Federal Reserve also pointed out that in community property states-- including California and Texas -- nonworking spouses can assert joint ownership of property (including income) acquired by a working spouse. In those cases, issuers can consider the spouse's income when considering a credit card application solely in the name of the stay ...
Re: Non-borrower Spouse’s Debts Common Property. The short answer is they will include all of your spouse's debts. FHA states: If the Borrower resides in a community property state or the Property being insured is located in a community property state, debts of the non-borrowing spouse must be included in the Borrower’s qualifying ratios ...
Re: FHA Question - Legally Separated in Community Property State It will end on the date of the Divorce Decree. *Some* situations can "end" on the date of the legal separation (usually admin type stuff -- like 401(k), certain types of bills, allotments, etc), but most end only with a valid Divorce Decree.
My husband is a new immigrant. He is going to apply for a student credit card to start building his credit. My score is a 647. We live in California which is a community property state. I have been told this means that our credit is supposed to merged into one score but I have not seen this happ...
In nearly 30 yrs of lending AND underwriting I have NEVER asked an Applicant for copies of credit card statements. Be aware that if you are buying in a “community property” state the rules are different if only one spouse is applying for a loan. In that case the credit score of the actual borrower is used but the bills of BOTH spouse are ...
My LO explained to me that he locked me in at 3.625% FHA with the builder paying $7500 toward closing and $2500 in prepaid. The LO states that he will pay $1800 toward my closing. My estimated closing cost is $8200, with estimated pre-paid of $2800. The LO stated that he want me to go into closing with the property as unimproved property ...
Yes, there are a couple of VISA cards that are available through the "shopping cart" trick. One is through Sportsman's Guide Visa (stated in the list) and MyPoints Visa (also stated in the list). There is also a sign up for the Total Rewards - which can preapprove you for that Visa.
The credit unions listed below because they can be joined by being a member of the American Consumer Council. There are regional American Conumser Councils as well. The membership is free or you can join by paying a membership fee. I called the ACC and asked if they had a list of credit unions you could join by being a member.
NOO: Non Owner Occupied is a property where the mortgagor does not live in the property and has it as an investment. IP: Investment Property PPP: PrePayment Penalty is charged in those states that allow it by subprime lenders and an occasional conforming lender to assure the lender of making a profitable mortgage investment. A PPP can be either ...