Minor approved for mortgage?

[dobiegal]

Florida

Can a minor be approved for a mortgage? A friend's son, who is now 19, found that he has a mortgage on his credit report. Turns out it is on his father's house, who resides in Florida. The son lives in Texas and did not sign any papers.

Countrywide would not discuss the loan with the mother, even though the mortgage was approved when the child was 17.

My suggestion is that he sell the house!

 

[amortgageman]

A mortgage applicant must be of legal age to enter into the contract.

I am not really sure if this is the issue though, because forty to seventy percent of credit reports contain an error of some sort. The Credit Reporting Agencies look for close matches to apply the credit account to. There are occasions where the names are close enough that the CRA will aply the account in error.

Best to check with the county where the home is located and see who the home belongs to.

 

[nextwife]

IT is possible someone has the same name or used his name fraudulantly. A mortgage IS recorded in the public record. He should obtain a copy of the mortgage and deed on the property and see what the story is.

If it indeed is him on the mortgage:

Then he should contact Countrywide, send copies of the documents, his photo ID showing his birthdate and ask them to explain how it is he was put on this loan. If they are claiming he IS the mortgagee, he has every right to see any documents he supposedly signed at closing. He may need to retain an attorney. But he needs this gone, as it will appear as a debt obligation and potentially impact what he can borrow in the future.

Many Florida document records are available online:

http://www.publicrecordfinder.com/courtrecords.html

 

[dobiegal]

Thanks for the feedback. Dade County records show the boy's name as the sole owner and Countrywide has confirmed his SSN. Countrywide is sending some form to my friend that needs to be completed in order to request additional documentation. Amazing how this can happen, given how finances are a key part of loan approval and Gervaise had none! Thanks, again.