Marrying into bad credit

NEW YORK (CNNMoney.com) -- Question 1: My credit is very good. My wife's is not. If I add her to my checking account and/or add her name to my mortgage, will this bring my credit rating down? -Michael

In your case if you add your wife's name to the mortgage, your score will remain the same - provided of course that payments are made on time. But your wife could get a nice boost on her own credit score.

If both of you were looking to apply for a new mortgage, the lender will give you a loan based on the lower of the two credit scores, according to Craig Watts of Fair Isaac.

And - as an aside - your checking account has no bearing on your credit score.

Question 2: I'm 65. I own my own home and would like to maximize the equity in it. Is a reverse mortgage a good way to do that? Also, which company should I approach for this? I'm a widow with no children. -Jitka

You should consider a reverse mortgage only if you plan on staying in your home. This will give you a monthly income by drawing down the equity in your home. The downside is that it can be expensive, and a reverse mortgage reduces what you are able to leave your heirs.

Remember, you have to fully own your home. That means having no debt, such as a home equity line of credit or a regular mortgage. You can visit AARP.org to find out where to get such counseling services.

To find out more about different lenders, get in touch with the National Reverse Mortgage Lenders Association. They've developed "best practices" for their lenders.

And a tip from a viewer. Here's something people don't think about, if they've never experienced a tornado: swing sets and jungle gyms. We found out first hand how they can fly! They are not always heavy enough to stay put, so make sure you anchor them. It's well worth the investment. -Susan

You can buy a ground anchor system at any local home-improvement store. They generally cost about $20. You can also install the swing set legs in concrete below ground level. Concrete is probably the best solution, but remember, it's permanent says Mike Rimoldi of the Federal Alliance for Safe Homes.