All Forum Posts by: Gerald Nurczyk Jr

Dave Skow

If I took my savings account and made it a joint account with her would she be able to use the money? If so would there still be a seasoning period? Also would there be any tax implications for doing something like this?

Erik Estrada 

We are planning on living in the property. The first one in mind is a reasonably priced SFH zoned commercial with room for the front half to become work area for her massage therapy clients. She currently is still working W2 so no reportable income from massages besides W2. We have only spoke to 1 loan officer recommended by the realtor.

I belive that with light to moderate rehab I could dramatically increase property value. (Currently listed at 75,000) Similar comps in area average 140,000. 

I have about 10% of down payment with similar reserve in 401k/IRA and ability to borrow the other 10% from family member. Just really not sure how to give that money to her so she could qualify.

If anyone could help me I would truly appreciate it.

  The problem: 

Looking to buy my first home/investment property. I just recently (within 6 months) declared bankruptcy. I have decent enough amount of money for a down payment but don't believe I'll be able to get a loan on account of the bankruptcy. 

I would like to use my fiances name to aquire the mortgage. Her credit is 760 but nothing really as far as savings. And income is about 36,000 annually.

The question:

Is it possible for her to use my income on a loan? Or for me to give her my savings?

Any thoughts, tips, ideas?