Short Sale closing requiring spouse to sign? Spouse is not on loan, title, deed, etc. We got married after purchase of house.
Why is short sale closing requiring my spouse to sign? She is not on loan, title, deed, etc. How will this Affect on credit/ability to obtain loan in future?
I have a primary residence in Florida which I have a homestead exemption on.
I bought this property before I got married. I have been approved for a short sale by both my 1st and 2nd mortgages with a full release and now they are asking for my wife to sign docs during the closing.
I am afraid that this will have a negative impact on her credit/ability to obtain a loan in the future. Why are they requiring this if she was not on the loan/title, etc?
Since you have a homestead exemption this must be your primary residence. This also means that your wife, no matter whether you got married before or after the purchase or even whether you have a prenup or not, is entitled for half of it. Although Florida is not a community property state, homestead property is still owned by both, man and wife. This is the reason they're asking for your wife to sign off. Whether it would affect her credit I don't know. I would think not...
As a married couple she has homestead rights to the property. They probably want her to sign off on that.
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