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Name On Home Deed But Not Mortgage All Locations : Nationwide Real Estate Advice

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Showing results for Name On Home Deed But Not Mortgage [Clear search]
James Deskins, Real Estate Pro in Worthington, OH
Fri Feb 22, 2013
James Deskins answered:
How can it not be on your "credit" report? If your name was on the deed or the mortgage it's on your credit report. You had better check again.
0 votes 3 answers Share Flag
Jennie Miller…, Real Estate Pro in Phoenix, AZ
Sat Mar 8, 2014
Jennie Miller, Pllc answered:
Suzanne MacD…, Real Estate Pro in Morristown, NJ
Tue Aug 19, 2014
Suzanne MacDowell answered:
It's really no more difficult for a single woman to buy a house than for a married couple or a single man. It's done every day. I would check the laws in your state regarding ownership of property. Consult an attorney and make sure you follow all the rules if you do not want your husband on the deed. ... more
0 votes 12 answers Share Flag
Melody Couve, Home Buyer in North Pekin, IL
Wed Feb 20, 2013
Melody Couve asked:
I am due to close on a new house in 7 days and had to due a quitclaim deed because my name is still on a pree ...
0 votes 0 Answers Share Flag
Justin Henry, Real Estate Pro in LITTLE ELM, TX
Mon Jun 29, 2015
Justin Henry answered:
Tracy Hoyt, Real Estate Pro in Valrico, FL
Thu Feb 21, 2013
Tracy Hoyt answered:
Carmen,

Yes he can get the loan without you. The loan will be based on his income alone. You will not need to be on the application.

Respectfully,
Tracy Hoyt
Realtor
0 votes 10 answers Share Flag
Ann Ryan, Real Estate Pro in Doral, FL
Mon Apr 14, 2014
Ann Ryan answered:
The dangers are too numerous to list, but here's a few highlights:


1) undislcosed liens
2) unpaid bills for electricity, water, taxes, etc. Even if you're not required to pay them yourself, expect to do a lot of paperwork to fix the previous owners problems.
3) maintenance - it hasn't been done. Every appliance will probably need service.
4) unpermitted "improvements", nearly every foreclosure in South Florida was illegally subdivided as folks tried to save their homes. Bad electrical, plumbing, construction, etc. is rampant.
5) potential for chinese drywall. (even if it's not new construction, did the owner renovate?)
6) clouded title.

If you need to ask these questions, you should consider finding a buyer's agent to advise you. Buying a foreclosure is much riskier than a regular sale, and you need to make sure the property is enough of a bargain to be worth that risk.
... more
0 votes 7 answers Share Flag
Robert Boern…, Real Estate Pro in El Cajon, CA
Thu Jun 20, 2013
Robert Boerner answered:
Assuming the property is in San Diego County, I would suggest you go to the county's webpage and see if a recent Notice of Default has been filed.

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

(Make sure you search by the name that is on your Deed of Trust/mortgage document).

A call to your mortgage company would be worthwhile too.
... more
0 votes 10 answers Share Flag
Kenneth
Thu Mar 7, 2013
Kenneth "Kenny" Bebensee answered:
That will be your choice. Your asking it seems for legal advise and Realtors can not comment legally.

Kenny
Turtle Creek Realty
0 votes 12 answers Share Flag
Ken Allen, Real Estate Pro in Clearwater, FL
Mon Feb 25, 2013
Ken Allen answered:
Good Evening,

If your wife is only on the loan then the lender will not take into account your income. If both of you were on the loan then that will probably be your best shot. I understand your DTI is being eaten up. A couple of options. First, if your wife is currently working in NJ, then you can close on a home just prior to moving down and use your wife's income. Remember, you will always skip a month from when you close before your first payment is due. Second, you can sell your home in NJ if that is an option. Third, you can rent it out, however, you will have to claim the rental income on your income taxes and most lenders want rental history for atleast a year. The best thing to do is speak with a lender so they can look at your best options in regards to you and your wife on the loan or just your wife. I have a few awesome lenders that I refer my clients to. Please give me a call and we can discuss this further and also talk about what you are looking for in regards to your home in Tampa. My contact information is below.

Kenneth Allen
The Toni Everett Company
813*624*3679
kennethallen78@yahoo.com
... more
0 votes 13 answers Share Flag
Mary Bremer, Real Estate Pro in WHEATON, IL
Mon Feb 25, 2013
Mary Bremer answered:
Shoot me the address and I will do a title search to see details.
0 votes 11 answers Share Flag
Tina Lam, Real Estate Pro in San Jose, CA
Mon Mar 11, 2013
Tina Lam answered:
Depending on your initial credit rating, it could be 7-10 years until you can qualify for a loan. Many buyers in your situation end up buying with all cash instead of waiting. What you can do is to check with a local loan agent to assess your current credit and financial situation. Then you'll know how you stand. ... more
0 votes 9 answers Share Flag
Marshall W.…, Real Estate Pro in Westbury, NY
Tue Feb 19, 2013
Marshall W. Myers answered:
A condominium is a property where the buyer is actually purchasing real estate-you receive a deed which represents that particular unit as well as a percentage of the common areas. A coop is a form of real estate ownership where the purchaser receives at the closing a stock certificate which represents the amount of shares in the corporation that owns the real estate, as well as a proprietary lease for life of that particular unit. In either case, whether condo or coop, the units may sold or given to heirs. A coop buyer is typically required to put down 20% of the purchase price, and the transaction must be approved by the management company and the coop board. ... more
0 votes 7 answers Share Flag
Victoria Rom…, Real Estate Pro in Clifton Park, NY
Thu Feb 7, 2013
Victoria Romeo answered:
Hi Abigail,

Is the issue that your father lost his copy of the title? There should be a copy of the title recorded at the town clerk's office from when he purchased the house. Contact the town and they can provide you with a copy.

Best,
~Tori Romeo
... more
0 votes 9 answers Share Flag
Matt Laricy, Real Estate Pro in Chicago, IL
Tue Jul 29, 2014
Matt Laricy answered:
Transfer stamps which are 7.5 per 1k, attorney fee, title, etc. I would say around 3500 in fees.
0 votes 21 answers Share Flag
Ray Akers, Real Estate Pro in Seattle, WA
Mon Feb 11, 2013
Ray Akers answered:
You'll need to talk to a mortgage professional. I recommend making inquiries with the bank where you have an established relationship. You could also talk to a credit union. Don't give up if you are turned down. I once had a client that was declined by four banks. The fifth bank granted her a mortgage. If you need a lender referral, feel free to get in touch with me. Good luck! ... more
0 votes 7 answers Share Flag
Lisa Frensley, Real Estate Pro in Fredericksburg, VA
Wed Aug 14, 2013
Lisa Frensley answered:
I will preface this answer by saying that I'm not an attorney and you should seek proper counsel as this sounds as if you may have a dispute, or you just may be seeking information before committing yourself to a mortgage with someone. That being said, if your name is on the loan documents, you are jointly responsible for the mortgage, period. The bank is holding all parties on the note responsible for making the payment in full and on time. If you need legal counsel, I can recommend an attorney. ... more
0 votes 3 answers Share Flag
Catherine Pu…, Other/Just Looking in Silver Spring, MD
Thu Feb 21, 2013
Catherine Purcell answered:
Hello Sarah,

I am sorry for your frustrations. I would recommend posting a complaint to the Consumer Financial Protection Bureau who oversees real estate professionals. They will launch an investigation and get your deed recorded.

Sincerely,

Catherine S Purcell

Senior Mortgage Loan Originator
Fairway Independent Mortgage Corporation
catherinep@fairwaymc.com
cell: 202 573-6035
office: 617 456-1700

NMLS# 19172 FIMC NMLS #2289 MA license# MLO194172
... more
0 votes 7 answers Share Flag
Ann Ryan, Real Estate Pro in Doral, FL
Mon Feb 4, 2013
Ann Ryan answered:
What is in the divorce decree? If he is required to pay the mortgage, it doesn't matter that the home is underwater.

If your fiance is unable to make the payments, then he should try to petition for a change in the divorce settlement.

And you know what comes next, this isn't a real estate question, it's about divorce, you should be talking to a lawyer, not a real estate agent.
... more
0 votes 9 answers Share Flag
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Thu Jan 31, 2013
Tim Moore answered:
Yes it is, being on the mortgage and being on the deed are two totally different things. If you are on the mortgage you surely want to be on the deed, but not so much the other way around. Seek a lender and see if you qualify with just your income. ... more
0 votes 3 answers Share Flag
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