Mortgage in husbands name only

[patkc]

What is the name of your state? sc
My husband wants to refinance our home so we can pay off some bills. He was told by the mortgage company that we would get a better rate if just his name was on the mortgage because my credit is not that great. I am a little concerned about this. I am wondering how this could affect me if he were to die or if our marriage didn't last. With just his name on the mortgage he would be able to make any other decisions about the home without my permission. Is there any legal document that can be drawn up which would basically give me all rights and decisions to the house equal to his. We do have a basic will which leaves everything to the other in the event of our deaths.
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[LindaP777]

You can have both names on the deed, and just his name on the mortgage.

[FlyingRon]

I think it is unlikely that a lender will refinance the property with names on the deed that are not subject to the note, but I guess anything is possible. Of course, these days, even if you get off the deed you can get back on again without incurring any due-on-sale clause so it's possible they won't bother.

[nextwife]

Originally Posted by LindaP777

You can have both names on the deed, and just his name on the mortgage.

Linda, please tell me what title underwriter one could possibly find who would issue an owner's policy for such a scenario. I know of NO title company that would not require ALL parties in title to enter into the mortgage.

[LindaP777]

Sorry, you both are right. I had it backwards in my head! It's possible to have two names on the mortgage, one name on the deed. Which, of course, does not help the OP. My apologies! (Not enough coffee this morning!)