Property Q&A in Philadelphia>Question Details

Jeanette Wal…, Home Owner in 19132

If your name is on the deed, but not the mortgage, can the mortgage be transferred to you or sold to you by the person whose name is on the mortgage?

Asked by Jeanette Walters, 19132 Sat Jan 7, 2012

When my husband and I got married he had a mortgage on the property, from his first married(she is deceased and name is off everything). I gave him the money to pay off the entire money and put my name on the deed with his. I found out he did not pay off the mortgage with that money, he just caught it up to date. In the meantime, I am making repairs and fixing it up. I want my name on the mortgage and the deed solely, because he doesn't appear to be responsible (yeah just noticed). We have two children 7 and 9 I don't want to move them. I want to pay this off and fix this up so they will have something.

Help the community by answering this question:



This is not really a question for Real Estate professional; you should be seeking the advice of a legal representative. There are a number of issues that were raised in your question, but you need direction outside of the mortgage itself. There are legal ramifications that you may not be aware of or considering.

This is a situation where you need to protect your interests and finances. Speak with a reliable real estate attorney and you have your interests protected.

Ana Barlow
Coldwell Banker Preferred
2 votes Thank Flag Link Sat Jan 7, 2012
Right answer: attorney. Why? Mortgage and deed are two separate things. You dont want to be on mortgage, that is the debt. He wont want to be off the deed, that is ownership of home. Bank just wants payment on time. And dont care who pays. Getting this setled betwen yourselves first is what matters.
1 vote Thank Flag Link Sun Jan 8, 2012
Hello Jeanette,

You normally have two options in this case with the mortgage, one is to try to assume the loan if it is an FHA or a VA loan. If it is anything other than that, you will not be able to assume the loan. The tricky part now on the assumption is that you are on title already so would need to check an make sure you are still able to assume the loan. You would have to qualify like any other mortgage so option 2 might be better anyway as you would probably get a better rate, which is to do a refinance of the property getting a new mortgage. The legal terms are pretty simple. The current mortgage company has a lien against the property in the name of your husband. If the mortgage is not paid they can foreclose on the property to recover the money they lent.
Call me to discuss a refinance or an assumption 610-906-3109.

John R. Thomas
Certified Mortgage Planner - NMLS 38783
1 vote Thank Flag Link Sun Jan 8, 2012
Hello, Jeanette,

There are two ways that you can get on a mortgage:

1. By going back to the lender and trying to do an assumable loan (is it an FHA loan?)

2. By doing a refinance and starting with a new mortgage.

You can't just have your name put on a mortgage. You have to be proven to be financial able and responsible to take care of the payments. By putting your name on the deed your husband most likely violated the terms of the existing mortgage, so you may have a bit of a hornet's nest on your hands.

Good luck with everything,

Carol Cei, ePRO, Realtor
ReMax Platinum Club
Five Star Professional
ReMax Action Realty
215.358-1100 x1223
Web Reference:
1 vote Thank Flag Link Sat Jan 7, 2012
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