Property title name is not a co-borrower

[compiler]

What is the name of your state?GA
My spouse is not a co-borrower but will contribute the down payment. The lender said only the co-borrower will automatically be in the property title. How can my spouse name be in the property title as a house co-owner? Thank you for the answer.

[BelizeBreeze]

By also being a co-borrower.

[compiler]

Originally Posted by BelizeBreeze

By also being a co-borrower.

That is unnecessary because I have already been qualified for the loan. Both of our names, however, are in the contract. Can my spouse name be on the property title? If anyone knows the answer, please share.

[BelizeBreeze]

Originally Posted by compiler

That is unnecessary because I have already been qualified for the loan. Both of our names, however, are in the contract. Can my spouse name be on the property title? If anyone knows the answer, please share.

The load company has already told you no. THAT is your answer.

[LindaP777]

Think about it from a banks prospective . . . I may be wrong, but the bank is loaning you the money, not your husband. You qualified for the loan, not your husband (as far as the bank is concerned, he may not be credit worthy). If you don't make the payments, they have to foreclose. They need to know who they are foreclosing on. You just can't stick anyones name on the deed, when the bank holds the mortgage (unless you make him a co-borrower). Kind of like your partners with the bank in this purchase. The bank wants to know who their partners are.
Does that make sense to you?
If you want his name on the deed, why not make him a co-borrower?

[HomeGuru]

Originally Posted by BelizeBreeze

The load company has already told you no. THAT is your answer.

**A: nice load company. Do they carry heavy loads with high interest rates?

[compiler]

Originally Posted by LindaP777

Think about it from a banks prospective . . . I may be wrong, but the bank is loaning you the money, not your husband. You qualified for the loan, not your husband (as far as the bank is concerned, he may not be credit worthy). If you don't make the payments, they have to foreclose. They need to know who they are foreclosing on. You just can't stick anyones name on the deed, when the bank holds the mortgage (unless you make him a co-borrower). Kind of like your partners with the bank in this purchase. The bank wants to know who their partners are.
Does that make sense to you?
If you want his name on the deed, why not make him a co-borrower?

I do not want my spouse to be obligated to the loan. My spouse contributes 50% down. The house does be paid by both of us. The only difference is my spouse pays 50% of the purchase price in cash while I pay by the loan. Why my spouse name cannot be on the title? It does not make sense. Since no one knows the answer, I will ask a real estate attorney for the help. There should have some way to solve the problem.

[pojo2]

Originally Posted by LindaP777

Think about it from a banks prospective . . . I may be wrong, but the bank is loaning you the money, not your husband. You qualified for the loan, not your husband (as far as the bank is concerned, he may not be credit worthy). If you don't make the payments, they have to foreclose. They need to know who they are foreclosing on. You just can't stick anyones name on the deed, when the bank holds the mortgage (unless you make him a co-borrower). Kind of like your partners with the bank in this purchase. The bank wants to know who their partners are.
Does that make sense to you?
If you want his name on the deed, why not make him a co-borrower?

What in the hell are you talking about???

[BelizeBreeze]

Originally Posted by compiler

I do not want my spouse to be obligated to the loan. My spouse contributes 50% down. The house does be paid by both of us. The only difference is my spouse pays 50% of the purchase price in cash while I pay by the loan. Why my spouse name cannot be on the title? It does not make sense. Since no one knows the answer, I will ask a real estate attorney for the help. There should have some way to solve the problem.

You go right ahead and ask ANOTHER real estate attorney.

Then you come right back here and bitch some more. Because there is no law that requires the LOAN company to comply with your wishes. If you don't want her on the loan then go to another loan company, or another, or another.