On title/mortgage but not loan

What is the name of your state? New Jersey

My fiancee and I are closing on our new home next week. The mortgage loan is my fiancee's name only and we are both on the title and the mortgage. We wanted to add my name to the loan as co-borrower but won't make our closing date if we make changes now. Will not being on the loan cause me problems down the road if my fiancee and I separate? Any difference if we were married before buying the house?

[HomeGuru]

Originally posted by kinnewj
What is the name of your state? New Jersey

My fiancee and I are closing on our new home next week. The mortgage loan is my fiancee's name only and we are both on the title and the mortgage. We wanted to add my name to the loan as co-borrower but won't make our closing date if we make changes now. Will not being on the loan cause me problems down the road if my fiancee and I separate? Any difference if we were married before buying the house?

**A: read your confusing post again. How can you not be on the mortgage loan yet be on the title and the mortgage?

[lookitsmary]

Being on the mortgage and not the note gives you all the rights to the property. You are just not obligated to making the payments. The only problems you will have IF you and your fiance' split will be amongst yourselves as to who will remain in the residence. If it is you you would probably be asked to quiet claim the property from you and your fiance' to just you then refinance so that you would then become obligated to the new loan you create. NO WORRIES.

[HomeGuru]

Originally posted by lookitsmary
Being on the mortgage and not the note gives you all the rights to the property.

**A: Correction- being on the mortgage has nothing to do with rights or ownership to the property. Being on the deed or title does.
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You are just not obligated to making the payments. The only problems you will have IF you and your fiance' split will be amongst yourselves as to who will remain in the residence.

**A: Correction- no one need remain in the residence as the property could be rented out or sold. And there are nunerous other problems that could arise such as property percentage division, claims of equity and expenses such as real property taxes, insurance, repair and maintenance etc.
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If it is you you would probably be asked to quiet claim the property from you and your fiance' to just you then refinance so that you would then become obligated to the new loan you create. NO WORRIES.

**A: Correction- the action of title transfer would be called a Quit Claim not a quiet claim.