co-signor on mortgage after bankruptcy
I went through bankruptcy only after a split in my relationship with my spouse and I was left to try to pay all the bills. I kept an a1 credit rating but knew that I could not afford my debt. A year after my split I met someone and during my relationship it was when I had to declare bankruptcy. He had his own home and now wants me to live with him and he wants me to go on as co-signor with him for the mortgage. It has been 1 year and 5 months since I was discharged. Can I do this? or will it affect his rating. Please let me know.
There is no reason (as far as your bankruptcy is concerned) for you to be excluded or denied co-signer status on your partners home.
To be frank with you, if you’ve only been discharged for a little over a year, your value as a co-signer is limited (you won’t have had enough time to rebuild your credit worthiness).
On a positive note, it is a generous offer from your new partner – it certainly demonstrates commitment on his part and therefore regardless of what the mortgage company says you should appreciate the gesture.