Looking to buy a house next year, but may have a glitch

[graygables]

I have moved away from my husband (different state), but we are still married on paper. Long story, but the big D isn't happening anytime soon. I am looking to buy a house next year and am looking into an area with USDA loans. The glitch is that I am still on the mortgage for the house where my husband lives. Short of having him refinance on his own, are there any alternatives to get it off my credit report or convince a lender that it's not my house anymore so it shouldn't count against me?

 

[msmayor]

Doubtful. As long as your name is on the mortgage you are on the hook for that debt and in this lending environment, I can't imagine any lender accepting any type of 'explanation' that its not your house anymore.

 

[cglaura]

I have moved away from my husband (different state), but we are still married on paper. Long story, but the big D isn't happening anytime soon. I am looking to buy a house next year and am looking into an area with USDA loans. The glitch is that I am still on the mortgage for the house where my husband lives. Short of having him refinance on his own, are there any alternatives to get it off my credit report or convince a lender that it's not my house anymore so it shouldn't count against me?

He would have to refinance or sell, and also be sure to get your name off the deed/title otherwise you'll be responsible for taxes. Also, make sure he is making the mortgage payments on time. I speak from experience there

 

[SandrA9810]

Are there any particulars on why you don't want a divorce? If it's a mutual thing, then it wouldn't cost an arm and a leg to go to the court house and have it taken care of. It's only when "he said" "she said", and the "I wants" that come out that things can get nasty and expensive.

Even if you get it in writing that he is going to take over the mortgage, you can still be held liable for it if he stops paying. After that point, then you can take him to court, to pay you back. But it's all going to show up on your credit report, and there's nothing you can do to get it off there unless you get your name entirely off the mortgage.

 

[Swimalie]

I'm wondering if you could do a quit claim deed to just him? If so, see an attorney to get this done.

 

[ancestry]

I'm wondering if you could do a quit claim deed to just him? If so, see an attorney to get this done.

This might get her name off the deed but won't get it off the mortgage.

OP you need to either get divorced or seek the advice of a lawyer. Even if your husband refinances you as his legal spouse can still be responsible for such things. Depending on the state if you buy a house when you are legally married (like you are looking to do) he might be able to get 1/2 of your house if and when you get divorced. Or if you don't divorce and he eventually dies his estate can come after your assets because of the legal marriage.

 

[Swimalie]

This might get her name off the deed but won't get it off the mortgage.

OP you need to either get divorced or seek the advice of a lawyer. Even if your husband refinances you as his legal spouse can still be responsible for such things. Depending on the state if you buy a house when you are legally married (like you are looking to do) he might be able to get 1/2 of your house if and when you get divorced. Or if you don't divorce and he eventually dies his estate can come after your assets because of the legal marriage.

You are right. I wasn't thinking mortgage but deed. A lawyer needs to be contacted because, as his legal wife, you might be responsible.

 

[dvcgirl]

I'm wondering if you could do a quit claim deed to just him? If so, see an attorney to get this done.

Yes, I'm she can file a quit claim deed, but I'd never in a zillion years do that unless he refinances the mortgage into his name only. Then file the claim.

Plus, it won't help her at all just to file that deed if she's still on the mortgage. Her credit will still reflect that the mortgage is in her name as well as his.

 

[Swimalie]

Yes, I'm she can file a quit claim deed, but I'd never in a zillion years do that unless he refinances the mortgage into his name only. Then file the claim.

Plus, it won't help her at all just to file that deed if she's still on the mortgage. Her credit will still reflect that the mortgage is in her name as well as his.

I got that and was corrected already. It's early and the best man at my wedding was killed in a motorcycle accident 2 days ago. I'm not thinking clearly. Thank you for correcting me again.

 

[SCDizneyDawn]

It's early and the best man at my wedding was killed in a motorcycle accident 2 days ago. I'm not thinking clearly.

So sorry for your loss.

 

[Colleen27]

I'd be very careful with buying a house while still legally married even if you can get the loan, because in some states there is a presumption that any real property purchased by a married person is help jointly. For example, in my state real estate purchased while married is marital property unless you can prove the funds used for the purchase came from assets you brought into the marriage or an inheritance. If neither of those conditions are met it takes a legally binding agreement to exclude property from the marital assets.

 

[graygables]

I got that and was corrected already. It's early and the best man at my wedding was killed in a motorcycle accident 2 days ago. I'm not thinking clearly. Thank you for correcting me again.

I, too, am sorry for your loss and I thank you for taking the time to respond.

Thank you, everyone, it's what I thought.

It's a long, complicated story, but we are happily separated and could some day be happily reunited. We see where the path leads and cross bridges as we get there. There is less than 9K left on the mortgage, the house was recently valued at $150K. It's an old family home, so selling it is a no. I will look into the refinance in his name only thing, then remove my name from the deed. It needs a new roof anyway, so maybe we can use some equity for that.

As far as my new house being joint property, I'm not worried about that. After I'm gone, everything I have is for the kids anyway, so I'll make sure that is sorted in our wills. He is not a materialistic person and agrees that everything is about the kids, so I'm sure that won't be an issue.

 

[Sunnywho]

I would not refinance and quit claim. In the event of a divorce, which sounds like it is a possibility (just not the only possibility), there would be a division of marital assets. If he gets the $150,000 house, you would get more in savings or retirement account or who knows what. He might say now that it's all about the kids but he also might turn on you in the event of a divorce. It has been known to happen....

 

[mom2d&b]

Also check the state you are buying in. I believe here in Florida, if you are married, both names must be on the deed.

 

[sookie]

I, too, am sorry for your loss and I thank you for taking the time to respond.

Thank you, everyone, it's what I thought.

It's a long, complicated story, but we are happily separated and could some day be happily reunited. We see where the path leads and cross bridges as we get there. There is less than 9K left on the mortgage, the house was recently valued at $150K. It's an old family home, so selling it is a no. I will look into the refinance in his name only thing, then remove my name from the deed. It needs a new roof anyway, so maybe we can use some equity for that.

As far as my new house being joint property, I'm not worried about that. After I'm gone, everything I have is for the kids anyway, so I'll make sure that is sorted in our wills. He is not a materialistic person and agrees that everything is about the kids, so I'm sure that won't be an issue.

if you only owe 9k on the house, it will probably not be a problem to get another mortgage in just your name as long as your income can support it. edited - and if your credit can support it.

 

[ilovemk76]

If you are OK with the home being joint property then why not buy the home and put both of you on the mortgage?

 

[Swimalie]

So sorry for your loss.

I, too, am sorry for your loss and I thank you for taking the time to respond.

Thank you, everyone, it's what I thought.

It's a long, complicated story, but we are happily separated and could some day be happily reunited. We see where the path leads and cross bridges as we get there. There is less than 9K left on the mortgage, the house was recently valued at $150K. It's an old family home, so selling it is a no. I will look into the refinance in his name only thing, then remove my name from the deed. It needs a new roof anyway, so maybe we can use some equity for that.

As far as my new house being joint property, I'm not worried about that. After I'm gone, everything I have is for the kids anyway, so I'll make sure that is sorted in our wills. He is not a materialistic person and agrees that everything is about the kids, so I'm sure that won't be an issue.

Thank you both. This has been a horrible few days but we'll make it through.

I knew a couple that was separated for 14 years and then got back together and have been for 7 years. Hang in there.

 

[dd50]

If only $9,000 is left on the other house you may want to talk to a mortgage broker and see if you qualify with the other house.

 

[dvcgirl]

I got that and was corrected already. It's early and the best man at my wedding was killed in a motorcycle accident 2 days ago. I'm not thinking clearly. Thank you for correcting me again.

Sorry for your loss.

I didn't see that another poster had already responded to your post. Our posts were just several minutes apart. Had I seen that someone has already posted....I wouldn't have.

Filing a quit claim deed without having the Ex refinance is a mistake I hear about all of the time. And it's a big one. My husband's brother just went through a divorce, and he has repeated asked his ex to file a quit claim deed, and yet there's no way that he could ever in a million years afford the house. He's five seconds from losing it to foreclosure....and yet, he's telling her that if she quit claims it to him....that he'll be able to keep it with a modification.
There's no modification that could save him.

The OP sounds like she might get back with her ex. And if 1/2 that equity is hers....I'd never even file a quit claim deed and have him refinance it. I'd leave the house in both of their names....and rent wherever you're going.....and see if the relationship is healed.

 

[Swimalie]

Sorry for your loss.

I didn't see that another poster had already responded to your post. Our posts were just several minutes apart. Had I seen that someone has already posted....I wouldn't have.

.

Thank you.