Help With Laws
I'm in processing to get my alien card, until now I don't have SS# only ITIN# Me and My partner (who has SS#) about to buy a few properties, my questions are is there away for me to be on the property as a owner/partner or any way to protect my money (just in case) and be in control or we have to do seperate contract with lawyer, because we thought that it's better for both of as that I'm not going to be sing on the properties until I'll get my SS# The reason is also to get better credit point for mortgage....? Is that making sense? Thank you 
On 2003-08-23 22:37, oshag20000 wrote:
I'm in processing to get my alien card, until now I don't have SS# only ITIN# Me and My partner (who has SS#) about to buy a few properties, my questions are is there away for me to be on the property as a owner/partner or any way to protect my money (just in case) and be in control or we have to do seperate contract with lawyer, because we thought that it's better for both of as that I'm not going to be sing on the properties until I'll get my SS# The reason is also to get better credit point for mortgage....? Is that making sense? Thank you <IMG SRC="images/forum/smilies/icon_eek.gif"> <IMG SRC="images/forum/smilies/icon_eek.gif"> <IMG SRC="images/forum/smilies/icon_eek.gif">
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i don't believe your citizenship would make any difference on whether or not you can take an ownership interest in real property. you might want to speak to an immigration attorney to verify this but i don't think it matters. a resident (non-US citizen can very well purchase and own property. happens all the time.
thank you
but is that can give some probelm down the road for getting better rates for loans?
conventional lenders (banks) will pull your credit report when making a decision whether or not to extend credit to you for a loan. Unless you are able to verify your income and debts in another way (like a signed affidavit from each of your creditors) it will probably be difficult to obtain conventional financing without a social security number. To answer your question, yes, it is more difficult to obtain financing without your ss#. Notice I said conventional financing, you could still purchase property via other methods: 1) owner financing; 2) subject to; 3) contract for deed; 4) assumable mortgage; 5) cash. You could also have someone co-sign the loan documents for a conventional loan. You do have options.
J