My husband wanted to refinance our home. I had just lost my job due to health problems. But I have 2 retirement incomes as well as
disability. He found a company to refinance only if his name was on paperwork and his credit score used. They also told us my name could be put back on house.My name was taken off but the same night papers were signed they put it back on just not on the loan. Is this possible or legal? Or have I lost my home if my husband passes? by mkukral3554 from Peoria, Arizona. Jun 8th 2016
Joseph Afonso (jafonso)
#65 ranked lender in Arizona - 197 contributions
It is possible to be added to the deed if you are not on the note. If you husband was to pass it doesn't mean that you lose your home but I would recommend that you speak to an Estate Attorney that can help you plan for this.
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
If they put you on the title after the loan closed, then yes.. this is common and it is legal in most instances.. You basically have the best of both worlds.. you have ownership rights with a deed in both names, but he is the one responsible for the mortgage.. not you.. Also, the law requires the lender to allow you to assume the loan if he passed away.. and you don't have to qualify to do it.. But in reality, even though you are not on the mortgage.. if it doesn't get paid, the house goes to foreclosure.. so there really not much of a benefit there.. but you do have full ownership rights.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
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