Does it matter to the lender who holds title?

Asked by Hluuci, 92646 Sun Mar 15, 2009

My fiancee and I are going getting close to close on a home and was wondering if it matters if just one of us choose to hold title, even though both of us are on the loan? Would it matter to the lender? Would it matter if in the future we both hold title?

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Bob Phillips, Agent, Rancho Santa Margarita, CA
Mon Mar 16, 2009
That is a legal question that most Realtors are not legally qualified to answer. Your lender probably has a preference and will demand that the escrow at least closes with that preference intact. After the close of escrow, however, there are numerous tactics that co-owners can employ, and many do. A party can be removed, by mutual agreement, or in the most likely case, title is transferred to a trust. I hope that helps.
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