we brought a home in my wife name and i am paying the mortgage what happened if we are sepreated?

Dear Woodsada736,First, my sympathies to you and your family during this difficult time. There are few questions I'll need for you to answer so I can help you and some distinctions you'll need to understand in order to answer mine. Being on the mortgage is having financial responsibility for the property and being on the title is having ownership of the property. It's possible to be on the mortgage but not the title and vice versa. And it's also possible to not be on the actual mortgage or the title and to pay the bill each and every month too. There are many things which can happen with a separation or divorce and to properly answer your question I/we will need more information including who is on the mortgage (only you, only her, both of you) and who is on title (only you, only her, both of you), what your intentions are (you want it, she wants it, both of you want it, both want to sell it), what your legal entitlements are (what the courts believe is fair to each party if you're that far already) and then what your financial capabilities are (who is qualified to carry the mortgage, etc.) beyond that. What specifically do you want to know? I talk better than I type so if it's easier for you then please give me a shout @ 781-258-1293 and I can help you sort through this faster.Thanks,Scott

Generally speaking, while the home is officially her home, most states will take that as a marital asset - which will need to be figured out through the divorce process. Most of the time one person retains the property and is financially obligated to compensate the other party for their portion. Other times the home is sold outright with both parties splitting the proceeds (if any). Contact an attorney.

If you separate than it's up to what ever agreement you and your wife have.. if you actually divorce, then the court will decide how the marital asset is distributed.. it's possible that the court could give you possession of the home, and your ex spouse will have to sign the deed over to you.. but unless the property is refinanced out of your wife's name, she would still be liable for the mortgage payment even though she no longer lives in the home or has legal ownership of it.. 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

Call me to discuss.. I can do loans in Mass www.firstfloridafin.com 954 558 4430