Can the mortgage bank include my income to my husband if he is the only one in the title of the house?

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I really appreciate your answer in this matter. My husband and I have a problem with Bank of America for two years now, they have been denying our loan modification application even if we are very qualified with the HMA government program. The last decision that they denied our application because our income is over the limit of the HMA program. My husband has been unemployed and employed from time to time. Your answers, suggestions where we can ask for help, we are in Nevada. Please HELPPPPP

5 Comments
  1. Reply
    wizjp
    May 2, 2011 at 8:55 am

    They can; but they will probably require you to deed in to the property so that they can foreclose both interests if it comes to that.

  2. Reply
    the kid
    May 2, 2011 at 8:59 am

    For a modification, yes. Modification is for folks who can’t afford their payments. You are married, and therefore your income is available to pay the bills.

  3. Reply
    Jarrod
    May 2, 2011 at 9:38 am

    You are married. Therefore it is no long based on who owns the house. It is based on the household income. These are the same laws that say when you divorce him you can have half of everything, even if that means he bought it before he married you and it is in his name.

  4. Reply
    Landlord
    May 2, 2011 at 10:21 am

    They are looking at household income and bills. If you are over the limit you are not qualified, I have no idea where you get “very qualified” from over the limit.

  5. Reply
    Zarg222
    May 2, 2011 at 10:27 am

    they are NOT going to give a modification if your husband (or you) has been unemployed frequently

    you are never going to get the loan modified to anywhere near where you would ever break even on the house unless you wound up staying there until the mortgage was fully paid off (30 yrs?) and then you would have wound up paying at least double you would wind up being able to sell it for – since house prices in your area have experienced some of the largest DECREASES in the country

    you’d be better off sooner by walking away, dealing with the credit damage for 7 yrs and then rebuying again at a much lower price

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