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If your wife is in a Chapter 13 plan and is the borrower on the mortgage can the husband apply for a refinance loan to pay off the first mortgage?
Yes! The only thing is the chapter 13 will have to be discharged at closing. Depending on how long she has been in the bankruptcy, this may not be a big hassle. It is impossible to refinance a home in a chapter 13 without the BK being discharged. For more information, please feel free to email me at Travis.Fleury@gmail.com. I work for one of the largest direct private mortgage lenders in the country, i'd be glad to help answer any other questions.
What else can I help you with?
If your husband has a reverse mortgage and you are not 62 what happens to you with the house if he dies?
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
What happens if you were unmarried and got a home loan and then you marry?
Nothing, so long as you do not get divorced or die, and then it varies by situation and state. If you refinance after you are married, your spouse may be a borrower with you or may "join in" on the mortgage. Again that depends on certain conditions of the refinance such as whether or not you are refinancing your homestead property. Finally when you sell, depending on the same factors, you husband or wife may have a role to play in that sale.
Can I refinance my mortgage taking my ex husband off while adding a different person who has better credit than me?
The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.
My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?
Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.
Must a husband disclose his income and sign the mortgage if his wife is the one buying the house?
Generally, not if the property will be in the wife's name alone and her income is enough to qualify her as the sole borrower for the loan. Some lenders insist that both spouses sign the mortgage.
If your husband has a reverse mortgage and you are not 62 what happens to you with the house if he dies?
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
In the state of Georgia my husband is on the mortgage of our home not me his wife. If he dies what can I do?
If your husband passes away and he is the sole borrower on the mortgage, you may still have rights to the home depending on how the property is titled. If you are the co-owner or if the home is jointly owned, you can typically assume the mortgage or refinance it in your name. It’s advisable to contact the mortgage lender to discuss your options and consult with an attorney to understand your rights and obligations regarding the property. Additionally, reviewing any estate planning documents, like a will or trust, can provide clarity on your situation.
How do you fill out quit claim deed when husband has left town and wants name off of mortgage and or title?
You cannot take your husband's name off the mortgage. You must refinance in your own name and pay off the prior mortgage. You should have a deed drafted by an attorney.
What happens if you were unmarried and got a home loan and then you marry?
Nothing, so long as you do not get divorced or die, and then it varies by situation and state. If you refinance after you are married, your spouse may be a borrower with you or may "join in" on the mortgage. Again that depends on certain conditions of the refinance such as whether or not you are refinancing your homestead property. Finally when you sell, depending on the same factors, you husband or wife may have a role to play in that sale.
Your husband is filing chapter 7 bankruptcy and you are not but you are a co-borrower on his loans will you still be responsible?
In most states, YES
Can I refinance my mortgage taking my ex husband off while adding a different person who has better credit than me?
The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.
The husband has his name only in the mortgage deed and mortgage insurance if he dies would mortgage company get the house or would the wife?
The mortgage insurance you are referring to is most likely the standard mortgage insurance that is on a loan above 80% of the value of the house. This MI covers the lender in case of the borrower defaulting on the loan. It does nothing to help the borrower. If you are on the deed then you still own the house if your husband dies but if you cannot either refinance the mortgage or continue to pay the monthly payments then the lender will ultimately foreclose on the house and repossess it. What you need is a life insurance policy that will pay off the balance on the mortgage in case of the death of the mortgage holder.
My husband and i live with my mother we have a life estate on our deed for her protection. In order to refinance the mortgage we have to remove it. Can we put it back on after we close.?
Probably not, check your mortgage for what can be done with the property. Lenders do not like property encumbered with life estates.
My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?
Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.
You quitclaimed your interest in your home to ex who recently died. How do you get your name off the mortgage?
You can't take your name off a mortgage that you signed. When you quitclaimed your interest in the property to your ex-husband you should have made it a condition that he refinance the property and pay off the existing mortgage that has your name on it. An attorney would have, should have, advised you to do that. When you conveyed your interest in the property without getting your name off the mortgage at the same time you made yourself responsible for paying a mortgage on property you no longer own.You can't take your name off a mortgage that you signed. When you quitclaimed your interest in the property to your ex-husband you should have made it a condition that he refinance the property and pay off the existing mortgage that has your name on it. An attorney would have, should have, advised you to do that. When you conveyed your interest in the property without getting your name off the mortgage at the same time you made yourself responsible for paying a mortgage on property you no longer own.You can't take your name off a mortgage that you signed. When you quitclaimed your interest in the property to your ex-husband you should have made it a condition that he refinance the property and pay off the existing mortgage that has your name on it. An attorney would have, should have, advised you to do that. When you conveyed your interest in the property without getting your name off the mortgage at the same time you made yourself responsible for paying a mortgage on property you no longer own.You can't take your name off a mortgage that you signed. When you quitclaimed your interest in the property to your ex-husband you should have made it a condition that he refinance the property and pay off the existing mortgage that has your name on it. An attorney would have, should have, advised you to do that. When you conveyed your interest in the property without getting your name off the mortgage at the same time you made yourself responsible for paying a mortgage on property you no longer own.
How do my husband and I refinance our home so we can have a lower mortgage payment?
Check out your local Yellow pages. Check the front and/or the back of the book for coupons. This will help you find a reliable professional of your liking.
Must a husband disclose his income and sign the mortgage if his wife is the one buying the house?
Generally, not if the property will be in the wife's name alone and her income is enough to qualify her as the sole borrower for the loan. Some lenders insist that both spouses sign the mortgage.
