Yep.
In order to refinance even in one persons name, anyone else who is on title must be present at closing. You can't legally refinance a home unless all people on title are present at closing. In any case names on a loan do not directly reflect names on title, you can have one person on a loan and 5 people on title.
Yes, the loan can be in one sole persons name, but the title can remain in two peoples names or be transfered into one. If you need some help with this I handle situations like this all the time give me a call 214)607-1445.
Not without refinancing the existing loan and changing the names on the title to the property..
this is a loan to senior persons who own their home and the loan is taken out against the value of that home. The owners obligation is to repay the loan upon death or when the owner leaves
It can be easier if you use their credit by putting them on title on the home and use there credit, however they will be responsible for the loan and be on title as at least a part owner. If you use another persons credit to do a refinance, the other person must in most title states be put on title and will be responible for the loan even if you both sign which you would have to do.
In order to refinance even in one persons name, anyone else who is on title must be present at closing. You can't legally refinance a home unless all people on title are present at closing. In any case names on a loan do not directly reflect names on title, you can have one person on a loan and 5 people on title.
yes
Yes, the loan can be in one sole persons name, but the title can remain in two peoples names or be transfered into one. If you need some help with this I handle situations like this all the time give me a call 214)607-1445.
Not without refinancing the existing loan and changing the names on the title to the property..
It depends on whose name or names are on the title. A co-signer of a loan isn't necessarily an owner. Their name must be on the title to the property also. The person or persons who are listed on the title have ownership rights in the property.
The lender will probably insist that all names on the title also be on the loan, but not the other way around.
From what I have read, no, a underwriter cannot stipulate who goes on the title if the loan is in more than one person's name. Normally, both names that are on a loan have to go on the title of the purchase from the loan.
this is a loan to senior persons who own their home and the loan is taken out against the value of that home. The owners obligation is to repay the loan upon death or when the owner leaves
It can be easier if you use their credit by putting them on title on the home and use there credit, however they will be responsible for the loan and be on title as at least a part owner. If you use another persons credit to do a refinance, the other person must in most title states be put on title and will be responible for the loan even if you both sign which you would have to do.
what happens if your husband dies and i am on deed,but not on loan.am i responsible for the loan and do i keep the house/
The closing cost on a persons house varies with the type of house and the size of the loan a person has borrowed. Closing cost on a home are usually around 3% and 5% of a persons loan amount but may also depend on the company that a person has taken a loan from.
You can cosign but both names will be on title.