Refinancing the house to my name.?

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My husband and I were married for 2 years living in Texas. He already had the house when we got married, he bought a year ago, only in his name. Now we want to refinance our home, our mortgage company current Chase and we have so many problems with them, they say we stand behind our payments even if I proof we’re not and you hold us to continue to run. Well, we would just refinance with another company. The problem is that the husband has experienced financial difficulties and his credit is terrible. I thought better of credit, as we would the house with my credit card refinancing, I’m not on the loan current hunt (although we recently presented difficulties and given new payment plan and I took the papers and mark do not know why), and I’m not on the title. How could we about refinancing with my credit card? Thank you for your help.

4 Comments
  1. Reply
    nighthawk
    May 3, 2011 at 6:55 am

    the best thing if he can sell you this home and have his name in title or to a friend i don’ t know in taxes you can do that i mean h/w can sell each other may be not but if you sell to a friend then you can buy it back if the credit is bad and payment is late there is no way or talk to bank like wamu
    they may be able to help.
    hope i have helped

  2. Reply
    thinking-guru
    May 3, 2011 at 7:29 am

    This is easy to accomplish. It only takes 1 person to qualify for a loan. I do not know the marriage laws in TX but up here in MN once you are married you both own real property equally. Those are the 2 parts of home ownership: who has interest in the home legally (husband and wife), and who is responsible for the mortgage (in this case, only your husband).

    To avoid you husbands credit issues, you should apply by yourself. Only your credit and wages will be used to approve the loan. Assuming you qualify (meaning your credit is good enough and your debt ratio is not too high), the refinance will proceed and you can get out of that Chase loan.

    The county you are in has a record of the lien on your property by Chase. They will require satisfaction(the title company will take care of this from the proceeds of the refi). Once Chase is paid off a new company will have the lien and the county will be notified. I mention this to sort of tie the two things together: ownership and the person responsible for the mtg. You will both own the property, which will have a lien on it, for which only you will be responsible. Your credit report will show the new loan, his will show the old loan as being paid.

    Incidentally, I have had other clients with similar problems as you are having with Chase. Check and see that they are not doing to you a thing we call a “rolling 30-day late”. Meaning you are always making last months payment during the current month so you are a month behind. If you can prove-via cancelled checks-that you were never a month behind they should correct your husbands credit report. Unfortunately you have Chase and they can be a real pain in the A** to deal with. Hope this all helps.

  3. Reply
    Nathan Grant
    May 3, 2011 at 8:18 am

    Most lenders will use the credit score of whoever makes the most income. However there are a few that will make the exception. It all depends on the situation at hand. Also; if there is proof that you were not behind on the mortgage, some (if not most) lenders will take that into consideration. If you would like more details, feel free to email me. I will be more than happy to help.

    Ngrant@pacifina.com

  4. Reply
    jonesk.loan@sbcglobal.net
    May 3, 2011 at 9:08 am

    Hello…..
    You would not have to have your husband sell the home to you to accomplish your needs. Assumming you do not have a pre-payment penalty you could simply refi using your credit score and your husband’s income. This type of refi is do-able, but is considered a sub-prime loan, which means your rate would not be as low. I work with Chase and hundreds of other mortgage companies and I can tell you that if you have a loan with Chase (who is not a subprime lender)…that would mean you probably have a decent rate- a better rate than you could ever get going subprime. I work with people everyday with similar situations. If you have any further questions…..email me at thejonesteam@meritlendinggroup.com. I hope this helps!

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