Is joint mortgage possible if one person has bad credit history?
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stewart
Apprentice
Joined: 03 Jul 2006
Posts: 13
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 Posted: 10/12/07 - 04:45 Post subject: |
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| My friend and I have been thinking about buying a house with his brother. We have been best friends for all our life. The problem is that his brother has bad credit history. Do you know if joint mortgage is possible if one person has bad credit history? Do you have any knowledge about this matter? |
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welbie
Apprentice
Joined: 24 Aug 2004
Posts: 10
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| Posted: 11/17/07 - 01:42 Post subject: |
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To my knowledge joint mortgage has advantages but there are disadvantages as well. You have to be very careful in choosing the persons with whom you are taking mortgage. Since you are all good friends I doubt it will be a problem for you. Concerning your question I think it could be a huge problem for you. Still, I think you should talk with a mortgage broker about all the options you have.
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