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Old 11-21-2006, 03:58 PM
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1 Person Loan & 2 People on a Title

What is the name of your state? Missouri. We are currently in the process of a refinance and the mortgage company said that we would be able to get a 7% rate if only 1 of us (me and my wife) were on the loan, but my wife would be able to be on the title. The question I have is, what would happen if something happens to me? The loan would only be in my name, how would my wife still be able to be in the house? Please help me on this one, they are wanting to close before the thanksgiving holiday weekend.

Thanks
Tim SchwabWhat is the name of your state?
  #2  
Old 11-21-2006, 04:37 PM
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If you and your wife are both on title, if you die, she gets the place and the loan will go with it.
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  #3  
Old 11-21-2006, 05:23 PM
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Quote:
Originally Posted by tschwab View Post
they are wanting to close before the thanksgiving holiday weekend.
If you do not understand what you are doing and are being given the old "we have to do it by this weekend though" then go elsewhere or get a real estate atty to make sure it is done properly.
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