does everyone on a mortgage note have to be on the deed?

Answer 1

No. But everyone on the deed must sign the mortgage.

Answer 2

Not by law, at least in North Carolina. In fact, you can have people on the deed who are not on the mortgage AND people on the mortgage who are not on the deed (i.e. co-signer).
HOWEVER, in North Carolina, everyone on the deed must sign the Deed of Trust, which is the document that gives the bank the authority to foreclosure on the property if the mortgage goes into default.
Having said that, many lenders may require all on the note to be on the deed - that will likely depend on the lender and the particular loan being used.

Answer 3

No you can sign on the mortgage without being on the deed. The reverse is not true. You must be on the mortgage if you are on the deed. The bank can't forclose half a property so everyone who is an owner must sign but, you can be a cosignor, just like on a car, and not be an owner of the car or property.

Answer 4

The lender will NOT close on a loan without the borrower on title, however, ones it's closed, a lender pretty much would have no control over who is being added and removed.

Needless to say, ones it's closed, the borrower can completely quitclaim himself off and grant someone else!

In the lender's eyes, it doesnt not matter who is paying the mortgage as long as it's being paid, AND if he does default on the payment, it will not matter to them who's on the deed...they will foreclose on the house either way! The house is their collateral, not persons! Capice? heehee

Answer 5

Yes. Otherwise the lender is lending to an unsecured borrower. Being on title is what provides legal right to finance the property. Without that you have no right to finance that property.

Here is some additional info. Hope this helps.