Can you remortgage a jointly owned property?

Can you remortgage a jointly owned property?

Also, each co-owner can independently encumber the co-owner’s own share in the property by taking out a remortgage on that share. Bank loans secured by remortgage on co-owned property are one of the fastest growing areas in the mortgage lending industry.

Can a spouse be a co-owner of a refinance?

Unfortunately in a refinance transaction the lenders usually end up having people name their spouse as co-owners of the property. During the refinance process your lender may have told you that it would be quicker or easier to have both spouses on everything. That may be true for them, but it could have put you in great jeopardy.

Can you refinance with your husband on the title?

The short answer is yes. If you and your husband are both on the current deed you can refinance with either of you on the mortgage note itself. Both of you would remain on title (deeded owners).

Can a separate property change title in a refinance?

As long as the name on the title of separate property does not change it will remain separate property. Unfortunately in a refinance transaction the lenders usually end up having people name their spouse as co-owners of the property.

Why does my husband want me to refinance my house?

I got a settlement and now all of the sudden he wants me to agree to refinance the house and take my name off the loan but not the deed, because he says his credit is better and he can get a better rate. I also found out from a friend that he is talking about applying for jobs out of state (like 700 miles away).

Unfortunately in a refinance transaction the lenders usually end up having people name their spouse as co-owners of the property. During the refinance process your lender may have told you that it would be quicker or easier to have both spouses on everything. That may be true for them, but it could have put you in great jeopardy.

Do you need your spouse’s signature to refinance a property?

In these states, property purchased by one spouse during the marriage is considered to be equally owned by each spouse, unless otherwise stated. Likewise, debts acquired by one spouse are the responsibility of both spouses. If you want to refinance a loan on a property, your spouse will be required to sign the documents.

What should I do if my husband refinances my mortgage?

Find out if you should refinance the mortgage, how to get your share of the equity if your husband is the one who’ll be refinancing, and what can be done if the mortgage isn’t refinanced. Should I refinance the mortgage? Would it be wise for me to let him refinance if we might divorce? Do I have to refinance if it wasn’t in the divorce?

Can a spouse refinance a mortgage without their consent?

It is not possible for one spouse to refinance a joint mortgage without the other borrower’s knowledge or consent — that would be mortgage fraud. In addition, the spouse remaining on the mortgage needs to be able to qualify for the loan on their own.