My husband is on the deed of my house owned by me his wife , hes not on the loan just warenty deed , can he buy a house in his own name?

Asked by Lisa, Naples, FL Wed Sep 21, 2011

My house is upside down like many in cape coral and i may end up short selling i purchased this home before my marriage to my husband and i added him to the deed for security , hes not on the loan at all and its not on his credit , he wants to buy a home in his name only. Is his name being on the deed to my house a problem if he quailifys otherwise?

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Steve Vinson, , Florida
Wed Sep 21, 2011
BEST ANSWER
Your not suppose to do it this way.............However, to be totally honest on the 1003 application you need to quit claim the deed back to yourself so he can truthfully certify he does not own any other real estate. Once that is accomplished he is free to do whatever he wishes. Heads up though he will need to Identify how rent was paid on prior address, and how much. Some lender require a 12 month documented history, we on the other don't. However I've found all things being equal it's just as easy to state rent free on the application.
0 votes
Carolyn Gian…, , Cape Coral, FL
Wed Sep 21, 2011
Wasn't this question asked and answered three times?
1 vote
Nancy Doyle, Agent, Cape Coral, FL
Thu Sep 22, 2011
Hi Lisa,
As the others have said yes he can buy a home if he can qualify for a loan on his own. I would be happy to put him in touch with a great mortgage company to see if he can. I am also a certified Short Sale Resource (SFR) specialist, through the National Association of Realtors. I would be happy to help. nancy.doyle1@comcast.net
239-209-2237

Have a great day,
Nancy
0 votes
Sarah Garrett, Agent, Fort Myers, FL
Wed Sep 21, 2011
Hi there,
It will be better for the rate he could get and the type of mortgage he would need as a second home if you Quit Claim him off your deed.
Most short sales will require you to be in arrears on your mortgage and this could effect your husbands ability to get a new mortgage. I would suggest getting a pre-approval as soon as possible is that is what he intends to do. I have used a very hands on Mortgage broker for thinks like this before so please contact Janie Wilder with Florida Lenders 239-945-4100 for the pre-approval letter.
If you would like to continue shopping the FL Gulf Coast MLS from the convenience of your computer then may I offer you to link up to my site below for the most up to the minute information available.
Happy to help you.

Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2011" by Gulfshore Life Magazine
Cell: 239-464-8620
Email:sarahgarrett@argfl.com
0 votes
Professional…, Landlord, Cape Coral, FL
Wed Sep 21, 2011
Hi Lisa,

Please contact me, I would like to discuss further. I am a certified Short Sale Resource (SFR) specialist through the National Association of Realtors. I would like the opportunity to help you or if necessary, refer you to another SFR certified specialist in the Naples area.

Looking forward to hearing from you!
0 votes
Kevin Clouti…, Agent, Cape Coral, FL
Wed Sep 21, 2011
Lisa,
You will need to sign an arm's length transaction document if you short sale the house preventing your husband from being the buyer.

Call me if you need to see your home short sale and let me advise how my 14 years and 800+ sales can benefit you.

Kevin@kevincloutier.com
1.877.840.3413

Cheers

Kevin Cloutier, Commercial & Residential Realtor
Southern Premier Realty
Cape Coral, FL 33914
Web Reference:  http://www.kevincloutier.com
0 votes
Steve Vinson, , Florida
Wed Sep 21, 2011
I forgot to add one major caveat.......Some Lenders are now verifying previous residence history because of the very thing you're trying to do. If the lender you choose does this you need to contact another lender, or contact me directly.
0 votes
Steve Geving, Agent, Fort Myers, FL
Wed Sep 21, 2011
Give me a call so we can discuss the best way for you to structure the transaction for best results. It can be a little tricky and you dont want to do it incorrectly.

Steve Geving
239-573-1400
Jones and Co Realty
0 votes
Marc Comisar, Agent, Bonita Springs, FL
Wed Sep 21, 2011
You just need to contact a loan officer to get pre-approved. You should be ok.


jessemcgreevy@gmail.com
239-898-5329
http://www.Bonita-Estero-RealEstate.com
0 votes
Didi Gonzalez, Agent, Cape Coral, FL
Wed Sep 21, 2011
Yes, he can buy a home as long as he get approval for a home loan. His credit will show no mortgages which will help him qualify for a home loan better.
Web Reference:  http://www.didihomes.com
0 votes
John Bennett, Agent, Orlando, FL
Wed Sep 21, 2011
Not that sure He can do so, please contact a local Real Estate Attorney for advise.

John
0 votes
Erik Elsea, Agent, Fort Myers, FL
Wed Sep 21, 2011
Lisa,

If he can qualify for the loan he can definitely buy a house. If you would like more information on this please feel free to contact me. Also if you would like to see all of the houses currently on MLS you can view them on my website.

Thanks,
Erik
Web Reference:  http://www.resuperstars.com
0 votes
Danielle Sha…, Agent, Cape Coral, FL
Wed Sep 21, 2011
Lisa,

I would quit claim him off of your deed. If he isn't on the note and can qualify for a loan there should be no issues. Currently have an identical situation on a short sale listing and my seller just quit claimed his wife off the deed. We received short sale approval two weeks ago.
Web Reference:  http://www.mysharphomes.com
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Wed Sep 21, 2011
If he can get a loan he can buy a house.
0 votes
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