if a residence property has a husband and wife on the deed and the husband is the only income earner, can the mortgage be in the earners name

Asked by Wayne, 85339 Mon Jan 4, 2010

If so, does the spouse
have any responsibility
if the earner can no longer
make his mortgage payments?

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Maureen Thel…, Agent, Phoenix, AZ
Wed Dec 22, 2010
If the income-earning spouse can qualify for the loan based only on his or her income, they might want to look into buying the property as their sole and separate property, in which case the other spouse will probably have to sign a disclaimer deed stating that the non-earning spouse has no interest in the property. Before you do that, you and your spouse should ask an Arizona attorney what implications or unintended consequences that action might have for you or your spouse in the future.
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Dallas Texas, Agent, Dallas, TN
Mon Jan 4, 2010
It depends on state of where the property is located.

Texas married both couples MUST be on title, both parties are held liable

If you can't continue payment contact lender immediate possible forebearance to loan .

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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