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#1
04-20-2009, 04:15 PM
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 Fiance will be the only person on the loan, can I be added?What is the name of your state (only U.S. law)? oklahoma My fiance and I are purchasing a house. Unfortunately, I have not been in my current profession for two years. The underwriter says this is a problem and he cannot use my income for the loan approval. If this is the case, then my fiance will be the only name on the loan. Thus, she would "own" the house before we are married. If divorce was to ever occur, she would be entitled to the house even when I would have been helping her with the payments. Even if I get put on the deed to the house, is there any way to make it so that we are both financially responsible for the loan? So the burden of the loan doesn't all fall on her shoulders? So she is not the only one responsible for the loan in the case of divorce? Please help. We are supposed to close in two weeks! |
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#2
04-20-2009, 04:16 PM
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| You can't force them to put your name on the loan/title.
__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic!  Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
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#3
04-20-2009, 04:22 PM
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**A: you are confusing mortgage loan with a property deed. Both of you could be on the deed and only her on the loan. |
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#4
04-20-2009, 04:23 PM
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| Quote:
__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic! Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
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#5
04-20-2009, 04:24 PM
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| I understand that I can be put on the deed, but if something were to happen, she would be the only one responsible for the loan |
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#6
04-20-2009, 05:29 PM
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| That bothers you?
__________________ When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it. --W. T. Pooh (aka A. A. Milne) |
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#7
04-20-2009, 06:20 PM
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| I too am bothered. |
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#8
04-21-2009, 08:29 AM
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| If she wishes to give you a share of HER property, she prepares a deed (well, more appropriately has a lawyer prepare it), signs and records it. If you wish to be added to the mortgage, you can ask the company holding the mortgage. Generally, they're not too unhappy to do so. I'd wait until you are actually married before doing all this, it will make things easier. Get extra true copies of the marriage certificate/license, it will make things easier to doing things like this (bank accounts, car titles, etc...). She'll need some if she's going to start using your last name anyhow. |
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