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Should husband and wife both be on mortgage?
The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.
Can you refinance your home in your name only if your husband is not on the mortgage?
It depends on the state, but generally the answer is yes. In states that allow it, if you solely have enough income to refinance in your own name, you can leave your husband off the note and deed (mortgage) and take title as a married woman her sole and separate property. It will also depend on the lender. Some will want him on the title but not the note (due to bad credit). Just call a few lenders and see what they can or can't do.If both own the property by deed then both will need to sign the mortgage so that the lender can take possession by foreclosure in the case of a default.
If your name is not on the promissory note or equity line for a home your husband owns are you responsible for them if your name is on the mortgage?
I am a mortgage broker and the answer to this question lies in the section of the mortgage document entitled: Joint and Several Liability. No you are not responsible for the note. The promissary note is the promise to pay. The mortgage clause will say that any Any borrower who co-signs the mortgage (security instrument) but does not execute the Note is co-signing only to mortgage, grant adn convey his/her interest in the property and is not personally obligated to pay the sums secured by the mortgage... this goes for the signer of the note extending or modifying the mortgage by perhaps getting a home equity line. You are not obligated financially. Are you on the title? That is the question. If you are on the title you own the home without any financial responsibility for the home and both of you on the Title must agree to sell the home, and one without the other cannot convey their interest in the property.
Does the spouse have to sign the mortgage in PA-Hubby is the one on the mortgage but bank states wife has interest in property so she must sign. Does that mean she has to be a co-applicant?
Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.
Can you get a home equity loan after you are divorced but still on the mortgage?
If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.
Should husband and wife both be on mortgage?
The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.
Can you walk away from mortgage if husband not paying mortgage and you are separated?
You cannot "walk away" if you also signed the note and mortgage. In that case you must pay even if your husband doesn't. If the mortgage isn't paid, the property will be taken by foreclosure and your credit will be ruined. You should consult with an attorney who can review your situation and explain your options.
Who has the note you signed when you granted a mortgage to buy your home?
The entity that owns your mortgage should also have possession of the note.The entity that owns your mortgage should also have possession of the note.The entity that owns your mortgage should also have possession of the note.The entity that owns your mortgage should also have possession of the note.
Satisfaction of note with two mortgages?
A note indicating you satisfied both of your mortgages may proceed the deed you will receive from your mortgage company. You should put your deed in a safe place when you get it.
Is it a good idea to buy a bank note for your own property from someone who has bought it from the bank?
That could be done. However, you should seek the assistance of an attorney to determine that the assignment of the note from the original lender to the person who claims to have bought it is bonafide. The assignment of the note and mortgage from the bank to the present holder should be in writing, with reference to the recording information of the mortgage and signed by an authorized bank officer. The note and mortgage should then be assigned to you in writing, and in a similar form, upon payment to that assignee. Both of the assignments should be recorded in the land records. The second assignment, to you, should extinguish the mortgage lien on your property if you are still the record owner of the property.
Can you refinance your home in your name only if your husband is not on the mortgage?
It depends on the state, but generally the answer is yes. In states that allow it, if you solely have enough income to refinance in your own name, you can leave your husband off the note and deed (mortgage) and take title as a married woman her sole and separate property. It will also depend on the lender. Some will want him on the title but not the note (due to bad credit). Just call a few lenders and see what they can or can't do.If both own the property by deed then both will need to sign the mortgage so that the lender can take possession by foreclosure in the case of a default.
If you are on a promissary note but not on the deed do you sign the mortgage?
If you are not on the deed then you don't own the property. If you don't own the property then you should not promise to pay the mortgage. A co-signer on a mortgage and promissory note is completely responsible for paying the mortgage. If the primary mortgagor (who in this case is the owner of the property) defaults on the mortgage the lender will go after the co-signer of the note for payment. A default will ruin your credit. If someone has asked you to sign their note and mortgage then you should require they execute a new deed with you as the co-owner of the property.
Can I remove my name from a piece of property that my husband and I own?
In most states, if you are not obligated on a note to the property, then you can simply execute a "quit claim deed" and convey your interest in the property to your husband. If you signed an outstanding mortgage you will still be responsible for paying that mortgage. Any transfer of an interest in real property should be drafted by an attorney who is familiar with the laws in your state.
If your name is not on the promissory note or equity line for a home your husband owns are you responsible for them if your name is on the mortgage?
I am a mortgage broker and the answer to this question lies in the section of the mortgage document entitled: Joint and Several Liability. No you are not responsible for the note. The promissary note is the promise to pay. The mortgage clause will say that any Any borrower who co-signs the mortgage (security instrument) but does not execute the Note is co-signing only to mortgage, grant adn convey his/her interest in the property and is not personally obligated to pay the sums secured by the mortgage... this goes for the signer of the note extending or modifying the mortgage by perhaps getting a home equity line. You are not obligated financially. Are you on the title? That is the question. If you are on the title you own the home without any financial responsibility for the home and both of you on the Title must agree to sell the home, and one without the other cannot convey their interest in the property.
Does the spouse have to sign the mortgage in PA-Hubby is the one on the mortgage but bank states wife has interest in property so she must sign. Does that mean she has to be a co-applicant?
Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.
Can you get a home equity loan after you are divorced but still on the mortgage?
If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.
What happens if the wife is on the mortgage and not on the note and the husband dies?
If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.
