Nov 8 2010, 11:53 AM
QUOTE(Drian @ Nov 8 2010, 11:07 AM)
I don't know why you guys keep on assuming use brother/father/baby name cause when you use your son's name the son is liable for the loan and not the father. If you put you son's name , then your son must show that it have enough income to pay for the loan. You cannot pay for the loan and put only the son's name in the house. The bank will not allow that.
Not to say the Bank would not allow that, its just the Bank will not approve your loan application. Yes, I know what you mean.C'mon guys, imagine the wife of a flipper which is a full time housewife putting a loan application to purchase a 500k house, on what ground does the Bank going to approve this loan? since the wife don't have any proof of income. No, nothing.
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