Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.
The only way to remove your spouse is by refinancing the mortgage. Your attorney may be able to assist you in negotiating with the bank.
You can add your spouse to the mortgage by refinancing in both of your names. Your spouse does have to be credit-worthy. Check with your original lender to see if it can be done simply without a full fee for refinancing.
You can refinance without the spouse but you will need their consent to do so. If the spouse is on the title of the home, the answer is "no". If the spouse is on the existing mortgage the answer is "no". If the spouse is not on title you need to indicate on the loan application that you are married, and if you don't is fraud. At the time of closing she/he would have to be present. Inform you spouse of your actions.
Your spouse must execute a power of attorney that grants you the right to sign legal documents on their behalf. You need to consult with an attorney.
Maybe you should ask them? Actually it would be surprising that the potential mortgagor would grant the mortgage unless your spouse (IF you are, in fact, legally married) failed to co-sign the documents.
It depends on whether the property is your primary residence/homestead or not. If it is, the spouse needs to sign the mortgage and have her name on the front page. It will typically say, for instance, "John Doe, joined by his wife, Jane Doe." If it's not homestead property, the spouse does not need to sign, but there needs to be language on the front page indicating that the mortgagor is encumbering non-homestead property.
Certainly. Take the signed deed to the recorder and record it. However, if you owe a mortgage on it, the bank would have to agree, which they won't without your refinancing the loan.
Yes Watson. But the real question is: can the spouse spouse the home after the reverse mortgage dies live?
You should notify the bank immediately that your name was forged on the loan documents. If the loan included a mortgage then the bank is out of luck if it cannot prove you signed it unless your state laws allow one spouse to mortgage their interest in the property. In that case, the bank would only have a mortgage on a one-half interest. You should seek the advice of an attorney.
you just get it for no reason
A spouse is not added to a mortgage; if the spouse already owns an interest in the property through deed or community property, then the spouse is subject to the mortgage, regardless of whether or not he or she signed it. Note, however, that many mortgages contain "due on sale" clauses which require the mortgage to be refinanced if there is a change in ownership of the property. Contact your bank to see if your loan contains such a clause.
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.
Then the house needs to be sold.
Let me answer the question this way: the addition of somebody with low credit can't help a mortgage application, and may kill it. A lot depends on the mortgage being applied for (all mortgages have, as a criteria for acceptance, a range of acceptable credit scores) and how low, in fact, the spouse's credit scores are. Talk it over with the professional handling your mortgage. If, for instance, you need to add the spouse for income reasons, you might be better off to get a different sort of mortgage. Good luck.
At the moment there are very few investors willing to purchase reverse mortgage loans with a non-borrowing spouse due to the AARP / HUD lawsuit. It's advised that both you and your spouse go on the loan together as the reverse mortgage becomes a balloon payment when the last surviving borrower passes.Some helpful reading on this topic here:Reverse Mortgage with Spouse Under 62 Leaves Vulnerabilityhttp://www.allrmc.com/blog/reverse-mortgage-with-spouse-under-62-leaves-vulnerability
A quit claim deed will be rather inexpensive. However, the spouse can require payment to sign the agreement. You cannot remove them without their agreement and consent.Another PerspectiveA quitclaim deed will transfer the interest of the spouse in the property but will have no effect on the grantor's responsibility to the lender or the mortgage. Generally, the mortgage must be paid and refinanced in order to remove a spouse from any responsibility for paying the mortgage.
The options include: stop paying the mortgage and let the bank repossess the house; pay the entire mortgage yourself; divorce the spouse and move out; divorce the spouse and stay, while your spouse moves out; find out why your spouse refuses to pay half of the mortgage and see if some agreement can be reached; seek cheaper housing; go on an extended backpack tour of Europe; enlist in the army. That's about it.
NO, that would not effect your spouse or partner.
This question needs to be more specific, but the answer to it depends on where you live. Generally you can not be evicted without notice no matter where you live or who owns the house. If you live in a community property state you may have rights to the home depending on the situation regardless of who is on the mortgage. The name on the title of the home is more important than the mortgage documents. This is assuming there is no threat of harm that would cause your spouse to fear for their safety.
Florida is a Tenancy By The Entirety state when matters relate to married couples. That being the case, a surviving spouse is only responsible for those debts that were jointly incurred during the marriage. If the surviving spouse wishes to retain the home and there is a mortgage, he or she would need to renegotiate the terms with the lender if he or she was not on the lending agreement, the same applies to a vehicle(s).
can a spouse still living sale her residence to her spouse for the sum of 1.00 in a community property heir state.
If they are on the deed to the home, yes.