refinancing & looking out for future

What is the name of your state? IN
i've been married for 19 yrs. we've had a mortgage that long also. we are refinancing to pay off some debt. i'm a housewife and have been for 17 yrs. so my concerns and questions are the mortgage place wants to leave my name off the loan cuz i have no income to contribute but do put it on the deed.
my concerns are what would happen with the house if i was left widowed or if we were to divorce being that i don't work? and is that a wise decision?
would that be bad or good for credit purposes for me if i was left on my own.
because i have 3 kids also and i'm just trying to look out for my future if something were to happen i don't want to be left with no home. like would i have to sell or would i even have to right to if something happened. or would i have to buy it back? i don't know please advise me and if you need to know more than let me know. i just find this different because my name has always been on everthing. i did use to have ss income, but don't anymore so i'm just wondering if this is the right thing to do? i just wouldn't want to lose my home in case of a tragedy.

[HomeGuru]

Originally Posted by 69isdivine

What is the name of your state? IN
i've been married for 19 yrs. we've had a mortgage that long also. we are refinancing to pay off some debt. i'm a housewife and have been for 17 yrs. so my concerns and questions are the mortgage place wants to leave my name off the loan cuz i have no income to contribute but do put it on the deed.
my concerns are what would happen with the house if i was left widowed or if we were to divorce being that i don't work? and is that a wise decision?
would that be bad or good for credit purposes for me if i was left on my own.
because i have 3 kids also and i'm just trying to look out for my future if something were to happen i don't want to be left with no home. like would i have to sell or would i even have to right to if something happened. or would i have to buy it back? i don't know please advise me and if you need to know more than let me know. i just find this different because my name has always been on everthing. i did use to have ss income, but don't anymore so i'm just wondering if this is the right thing to do? i just wouldn't want to lose my home in case of a tragedy.

**A: look into getting life and mortgage insurance.

[Ciarraine]

Besides which, a homemaker can frequently be listed as a borrower even if it's wholly the other spouse's income that is used to qualify. The positive impact of timely mortgage payments on a credit report is a benefit you should try to have. Ask the lender if they can't find a product that allows you to be a co-borrower.

And yes--get some life and disability/long-range care insurance.

[MortgageGuru]

If you have any debts under your name alone it will only increase your debtr to income ratio on the loan. Refi's are done under just one spouse all the time like that in order to qualify you for a better rate.