My wife and I own a home together. Someone said to get a mortgage for that second home, I might be better to take my name off our house and transfer ownership just to my wife. So when I buy the next house I will be the only owner on that one.
2007-08-25 12:06:14 · 5 answers · asked by ThanksJustWondering 2 in Business & Finance ➔ Renting & Real Estate
You can try playing all kind of games if you want, but they will backfire. Changing a name on a title doesn't change you name being listed on the mortgage. Even if you could afford to by a house in another state your wife's name would be associated and the existing house would still show as a debt of yours.pp
2007-08-25 12:13:57 · answer #1 · answered by ttpawpaw 7 · 1⤊ 0⤋
If you plan on living separately ( in each of the houses )
That could work .
Otherwise your credit reports still show all the debt obligations (which do Not change)
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2007-08-25 19:19:46 · answer #2 · answered by kate 7 · 0⤊ 0⤋
I don't get it. If she qualifies for the mortgage, just have her get the new one in her name. Why is someone suggesting you do this?
2007-08-25 19:25:33 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I would ask the company representative that is doing your mortgage.
2007-08-25 19:12:16 · answer #4 · answered by David 4 · 0⤊ 0⤋
I would do it..It would save on taxes also.
2007-08-25 19:14:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋