Can my boyfriend and I qualify for a loan??
Hi guys,
So my bf and I need to get a $7,000 loan in order for us to move to the town where his kids live. Here is the issue, his and his ex-wife's divorce is not finalized so the mortgage on the house they bought and the loan on her car are still technically on his credit and since she has been continually 3 months behind on payments on both for the last 2 years (since they split up) it has been destroying his credit and it is like a 580 now. He makes 115,000 a year.
However, my credit score is 650. The kicker is that I lost my job a few weeks ago. And there is no point in me getting another job where we're at if we are going to be moving soon.
Is there a way that we could still get approved for a loan??
Tia.
Edit: He and I have been together for a year and a half and they split up around 2 and a half years ago. He and I have lived together for a year and this is something that he and I have discussed at length. I understand how it looks/sounds from the outside, but this is not a decision that I have made lightly.
Also, we are trying to get moved before the divorce finalizes because the oldest has now said that he wants to live with us and he is a sophmore in High School and he wants to finish school there. His mom is a psycho and he desperately wants away from her. So, we are trying to make that happen before the divorce so that we don't have to go back and fight for custody later.