Refinance....Is this true?

[kellyg403]

I am in NC and Dh and I just bought a house a year ago. I am on the deed, but I am not on the mortgage.

I own a home we rent out and dh owns a home we live in. Single mortgage holders. He recently has been inquiring about financing and will not be putting my name on the mortgage.

However, we are both on the deeds in case something happens to one of us.

We are in NC. I would have her check again with someone.

K

 

[MomofDisneyLoversx3]

That's false. I live in PA. My house and my mortgage are both in my name only. My ex was never listed on either even though we were married at the time of the purchase.

Perhaps it is false now, or was false at the time you purchased, however when we bought it was true.

 

[LaurLaur04]

Not sure if this helps, but my ex and I purchased a home. The mortgage was only in my name but we were both on the deed. We separated and we did a quit claim to remove his name from the deed. I tried to refinance and was told in NC he still had to sign the closing papers if we were still legally married no matter what any paperwork said.

 

[manning]

I own a home we rent out and dh owns a home we live in. Single mortgage holders. He recently has been inquiring about financing and will not be putting my name on the mortgage.

However, we are both on the deeds in case something happens to one of us.

We are in NC. I would have her check again with someone.

K

May not be the best way to protect each other in case something happens to one of you. You may have to look at a trust. Ask your lawyer.

 

[kellyg403]

May not be the best way to protect each other in case something happens to one of you. You may have to look at a trust. Ask your lawyer.

Yes, we are currently navigating the waters on what exactly we should be doing should something happen to one of us.

Both of us came into the marriage with children, and quite a few of the things we did were to make sure that our children were cared for if that makes sense.

You are very right that we have a very different situation now, and should be looking at other options.

K

 

[tink_n_pooh]

FWIW. This was not the case when we bought our house in 2009 but was true when we refinanced this year.

 

[MSSANDRA]

She was allowed to refinance in just her name. The bank said they COULD require both names but it is not a NC law that they have too. Thanks for mentioning about renting. They did ask about that and she was ok as long as she was not renting at the time of the loan. All turned out fine. Thanks everyone.