BOA wants me to sign doc’s on my wife’s refi in AZ. I just completed my own refi with Wells Fargo and wife did not sign anything.

Asked by Zman, 85345 Fri Apr 27, 2012

BOA stated that I would be vested but not on the mortgage and it's because AZ is a community property state. Both homes are in AZ, why wasn't this an issue with Wells Fargo?

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Stormy Rando…, Agent, Surprise, AZ
Wed May 2, 2012
Just had a similar situation myself with BofA. It depends on the lender, title company, and investor. Also depends on if the home was originally purchased before or after you were married.
0 votes
Bill Parker,…, , Scottsdale, AZ
Fri Apr 27, 2012
Hi Zman:

If your wife qualified for the loan on her own and title is in just her name, I believe the only document you should have to sign is a document acknowledging your wife is taking the property as Sole and Separate and, therefore, you have no interest in the property. In fact, if this is how the property was held previously, that fact has already been established and you should not have to sign anything.

I would read the document(s) they are having you sign over very carefully and make sure they are doing what you want, as opposed to what they want to have happen. In other words, make sure they are not somehow getting your guarantee on the loan, if that is not what you want.

This is best asked of a title person. Maybe there is one out there who will chime in, or if you do not get a definitive answer let me know and I will ask my title person.
0 votes
Thanks for the feedback. I've since sent an email to a title person that I know.
Flag Fri Apr 27, 2012
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