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Old 06-27-2013, 06:58 PM
 
2 posts, read 3,445 times
Reputation: 11

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Hello,

Having a moment of panic... We signed our closing papers on Monday evening. The mortgage is only in my name (deed in both of our names) due to wife's low credit. Because of this, my debt to income is right up against it.

Called USAA today to look into an auto loan. I was approved for the loan, but now I'm worried if it will affect my mortgage, as it pushed my debt to income over the mortgage lenders restrictions.

The loan was funded Tuesday morning and recorded around noon on Tuesday. If the loan is sold, could I be in trouble??!? Thanks so much!!
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Old 06-27-2013, 07:09 PM
 
148 posts, read 219,861 times
Reputation: 95
I am no expert, but I believe once the money was transferred (loan funded) than it's a done deal...
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Old 06-27-2013, 07:48 PM
 
Location: MID ATLANTIC
8,663 posts, read 22,839,384 times
Reputation: 10485
OP, you can quit your job and go out and borrow another 200K (not sure you would want to) and no one is going to come after you unless you don't make your payment. You made it to the finish line, so it's assumed you will be responsible.
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