about a mortgage?

Question

my husband ouned "our" home befor we got married and now i want my name on the mortgage, which he has no problem with BUT he tell me that he can't "just add it" we have to re-apply. is this true? is there somthing else i/we can do to add me as well??

Answer 1

Why do you want your name on the mortgage? The most important thing is to add your name to the property. You can do this at the county for less than $50.00.

He is almost correct on the applying to add your name to the mortgage. Normally the lender will not add or take anyone off a mortgage once it has been set. There are occasions when they will, but they will normally charge a fee and the person has to qualify.

The next time you and your husband refinance the house you can add your name to the mortgage. It is not that important in most states. If you reside in a community property state, it is not relevant, because technically half or what he owns you own and half of what you own he owns.

The thing you want to do is get your name added to the deed. Contact a local title company (Look in your local telephone book under title company) Tell them your desire is to be added to the property.They will give you some instructions and do the rest for you. It will cost a bit more than, if you and your husband had gone to the county recorder's office and your husband signed you on with a quit claim deed. You will save yourself lots of problems in the future if you allow the title company to do it for you.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

Why in the world would you want your name on the mortgage? That makes you liable for the debt. Yes, if you were to be added to the mortgae you would have to re-apply because the bank will want to know all about whoever is also assuming the debt.
If you want to be on the deed then there are forms to fill out. However in SOME places a wife automatically has rights of survivorship. Best to be on the deed as Joint Tenant with rights....
See a lawyer

Answer 3

Most lenders are willing to add a non-borrowing spouse to the mortgage because it gives them an additional guarantor of payment. Additional documents would have to be signed to do that.

More importantly, you want your name added to the title of the property, which can be done very easily via a deed that transfers ownership from just him, to both of you. If you have an attorney friend, they will be able to give you the document you need and the execution requirements in the state where you live. Then you can just file the document with the county clerk's office where the property is located.

A deed gives you ownership in the property. Adding you to the mortgage just means if he doesn't pay it, you'll have to. Adding yourself to the deed is much more important. Adding you to the deed is easier to me, because it doesn't require the involvement of a third party (mortgage company) to do it.

Answer 4

You are not trying to get added to the mortgage--you are trying to get added to the deed (the ownership of the home.) You need a legal form to do this. An attorney can help you.

Being added to the mortgage would just mean that you were liable to help pay for the home, but it wouldn't mean that it belonged to you, though it is true that possibly a mortgage company would require that you be an owner to be on the mortgage.

Answer 5

I suggest looking up this topic on Nolo.com. There are different legal forms you can get that cover this - he may be concerned about protecting his share of equity in the house, but the two of you will have to work that out.

Answer 6

You'll need to speak to a representative at the financial intitution where you acquired the mortgage.