Can I buy a house in my name only? We married but I filed ch. 7 a year before we married.?

Azusa California Said:
After filing ch.7 I married 1 1/2 years later. My wife bought our current house in her name only, I did have to sign some paperwork that basically said that I am aware of the purchase. They were not able to include my income for approval, everything strictly in her name. My question is once I reach my two year mark from discharge I plan to buy a home. My wife will have our current mortgage as debt $975 monthly and probably 3k of consumer debt. I don't want her debt and deferred student loans to count against me being approved for 75k hopefully. Any thoughts or loan advisor input? Any help is greatly appreciated.


Franklin Advantage:
You should be fine as long and you are not living in or buying in a community property state.

If you are living in or buying in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington or Wisconsin); there will be a problem.

In a community property state, FHA will count the debts of a spouse even if the spouse is not on the loan. (Only FHA, not Fannie Mae nor Freddie Mac will approve you for a new loan 2 years after a bankruptcy)

Again, this only applies if you're in a community property state.

http://www.thefranklinadvantage.com/Purchases.php