My wife bought a house with her credit while we were married. I am on the deed but not on the mortgage.?

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I am taking out a home loan and the lender wants to include her mortgage on my application. I am in Florida. She is not applying for the loan in any way and pays for that mortgage with her salary. I thought that I was entitled to take ownership of the house but not responsible for her loan. I qualify for the new loan based on my salary. It is a VA Loan. Can they do that legally? I know that the lender can deny the loan for many reasons but it doesn’t sound by the book to me.

  1. Reply
    May 14, 2011 at 1:12 am

    Mortgages are tied to the the property because they’re borrowed against them. If she defaults the bank gets the house. Are you talking about a second mortgage or a second property?

  2. Reply
    May 14, 2011 at 1:43 am

    Sounds like that mortgage showed up on your credit report. Don’t know why that would happen if you’re not on the mortgage.

    But if she defaults, you’re not getting the house until that mortgage is settled.

    If you’re not together anymore (you said were married) shouldn’t the divorce paperwork state she got the home? If it does, you should be OK. Usually the divorce paperwork showing it’s not your home anymore is enough for lenders to not worry about that mortgage. Ask the lender.

    But what can you really do? So many loans are in trouble they have to be extra careful.

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