Home Refinancing

It is refinancing your home. My husband wants to refinance, but my credit is poor.?

If you refinance with our son, who has better credit then I do, that would ruin my chances of getting children home financing in the future? Also that my son and I were writing? Is it affect my ability children to buy a house, even if we show that we were making payments?

Hello 123abc, as it may affect your ability to children to buy their own home in the future. Lenders want to know what your debt ratio is final. IE: Is it enough to support two households. A back-end ratio greater than 55% can be put at risk in terms of their situation when looking to buy their own home. If your husband and son wanted to come it would be legally responsible for repaying the loan. You title would be out until it has filed what is called a quit claim of property, or warranty deed in some states. You then have an interest in the property, but it would be responsible for paying the mortgage. The credit will still show, however, if you're not going to be considered for qualification, that there are programs that can minimize the effect of a spouse derogatory credit profile. Good luck, Trey ~

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