Your question has a few different levels to it. If you are looking to bypass letting the lender know that you are purchasing it from you husband, just because your last names are different it would not (as already stated) be an arms lenght transaction. You would not be able to purchase it from him as a short sale, as you would not meet the requirement of not having a relationship with the current legal owner. If your goal is to refinance and keep the home, and you are experiencing financial hardship, you are best served to discuss the options with your current lender to see what they do for you. If your refinance is just to reduce the rate, but you are not having a financial hardship, then you may have some additional options in doing a refinance in a conventional way. With the guidance of a mortgage professional and a real estate attorney, you can be added to the title and get a new refinanced mortgage with your husband at a lower rate, but of course, that will depend on the value of the home and how much equity you have. Any decision you make, you will want to see the professionals for the things you are looking to do. Good luck to you.
RE/MAX Advance Realty
But because you owe more than what the home is worth, you would need to bring in just as much money (if not more) to purchase the home than to refinance.
Did the loan officer look into adding you to the mortgage in order to get an Approve/Eligible instead of an EA?