All Forum Posts by: Josh Burtch

@Olivia Radziszewski, @Jay Hurst -- Right, it is because of debt to income.

Things in my favor: I have a credit score around 800. I make more than $100k a year. Current roommate will be paying the entire mortgage for the current house, while my name is still on the title and mortgage. 

But with the way it is structured now, that mortgage is still in my debt column. Guess I'm trying to find a way that the current mortgage would not be considered as my own debt.

Situation: I own a home with a friend. Both our names are on the mortgage. I'm looking at buying a place for myself. But with the current market in a bad place, and our mortgage rate of 2.75%, we both are hoping to hang on to the house.

My friend has offered to stay there and pay the full mortgage, and we would not make any changes to the title or mortgage. 

I've talked to a couple lenders, and they say that I would need 20% down to qualify for another mortgage that would only be in my name. 

Just wondering about the best way to do this, or other options for qualifying if anybody has been in a similar situation.

I bought a house a year ago, and I've been rehabbing it with the intention of renting.

Previous owners built a wooden deck in the backyard. They disclosed that it was a project they did with some friends who were contractors and carpenters. So it's in great shape, done by professionals. But they also never got anything permitted or inspected, and there is no legal record of the deck existing. 

I want to get everything legal before renting the house, but I'm not sure how that works in this situation. Concerned about contacting the city and being told the whole thing needs to come down, since it was never permitted. Not sure if I need to work with a contractor just to start everything with the city. (And it's real hard to find a contractor in Denver at the moment anyways.)

Anybody been in a situation like this before?