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Rosaskee · Joined: 26 Oct 2008 Posts: 1 3.10 Dollars($)

my husband and I purchased a home in florida his name only was on the mortgage thru FHA and no one ever explained this was how it is done in Florida. we were told my credit was not good. fha said I could not put my name on the deed. we just moved to florida and are not familiar with the laws and rights of a couple in purchasing property to live in. I would appreciate any help you can give I feel like I would lose all rights or say in any situatio. They were rude and said this had nothing to do with him signing the papers that we would have to see an attorney for a will. (we were at a lawyers office speaking with a parralegal) We purchased a new home. Not only has this caused hurt feelings and taken advantage off but is costing more money because now we need more money we do not have. No one seems to want to give us any answers. Please help
thank You Rose

smithsussane · Posted: Sun Oct 26, 2008 8:10 pm Post subject:

Hi Rosaskee!

Welcome to forums!

I can understand how you must be feeling in this situation and hope you get out of it very soon. I can understand that your name is not on the mortgage because your credit was not good. But is your name on the property deed? If it is on the property deed, then you will have certain rights to the property. If your name is not on the deed, then you can ask your husband to quitclaim and add your name to the property.

You can also go in for Tenants By The Entirety in order to hold real and some personal property. In this process, the property is equally owned by both. In case one of the tenants die, the property reverts to the surviving spouse and is not subject to probate procedure. In case of Divorce, TBE is severed and is converted into Tenancy in Common.

Feel free to ask if you have further queries.

Sussane

Niicss · Posted: Mon Oct 27, 2008 2:44 am Post subject:

Hi Rosaskee,

Tenants by Entirety is a very good option suggested by Sussane but you can also go in for a quitclaim deed and ask your husband to include your name in the property. If your name is not on the mortgage or on the deed, then you will have no rights to the property in any situation. It is better to include your name in property title either by a quitclaim deed or by the process of Tenants by Entirety.

Thanks.

Guest

My husband and I are refinancing. Both have excellent credit. Are there advantages/disadvantages to my name NOT on mortgage but ON DEED?

jerry · Posted: Mon Jan 26, 2009 1:24 am Post subject:

Hi Gbarbiedoll,

If your name is not on the mortgage, then you will not be liable for paying the mortgage dues. If the property goes into foreclosure, your credit will not be affected as your name is not on the mortgage.

As your name is on the deed, you are one of the owners of the property. If the property is sold, then you will have the right to demand a certain amount from the sale proceeds.

Thanks,

Jerry

Guest

my husband and his mother own home before we married i have been contributing to the morgage for 4 years,do i have any rights to sale of home and can he evict me

Niicss · Posted: Fri Mar 13, 2009 2:16 am Post subject:

Hi lisa

You haven't mentioned your state. If you live in a community property state, then you will have ownership rights to the property. Your husband will not be able to evict you from the property. If the property is sold, you will get your portion from the sale proceeds.

Thanks.

Guest

The husband is American and buys a house overseas, during marriage. The house is bought only on his name. Is his wife entitled to 50% of the house in case of divorce even if her name doesn't appear on the house contract?
In case of death, if the husband leaves the house to his daughter in his will, is the wife entitled to anything regarding the house? Thank you...

jerry · Posted: Tue Mar 24, 2009 7:39 am Post subject:

Hi Boella,

I don't think the wife would be entitled to anything of the house. The reason is her name is not on the title and as the property is located overseas, it is not subject to the laws of the United States. If he leaves the house to his daughter a will, she will receive it, not his wife, unless mentioned in the will.

Thanks,

Jerry

genestoneybrook · Joined: 22 Apr 2009 Posts: 5 4.85 Dollars($)

HI
We live in fla and my wife is on all the paperwork for our loan application for both our 1st and 2nd mortgage .
My name or signiture is nowhere on the loan paperwork If i call the lender they will not speak with me unless my wife speaks with them first to verify I am her husband.

I did search though County Clerks office and see a paper with heading (MTG) Mortgage .This 14 page document has my wifes named as borrower and my name listed to with ""AS TENANTS BY THE ENTIRETY"". I did initialed each paper and did sign last pages listed as borrower.

My question is if she decides to default on this loan or even walk away for the house .

DOES IT EFFECT MY CREDIT RATING TOO ?????? SINCE I AM LISTED AND SIGNED THIS PAPERWORK THAT IS RECORDED WITH THE COUNTY CLERKS OFFICE. I AM GUESSING THIS IS THE DEED RIGHT

I AWAIT YOUR GREAT ADVICE.

THANKS

savior70 · Posted: Tue Apr 28, 2009 2:54 am Post subject:

Hi

If you signed the mortgage papers and the promissory note, you will be held responsible for the loan, in case your wife defaults. In that case, your credit score, along with her credit, will be negatively affected.

Posted: Wed Apr 29, 2009 6:43 am Post subject:

I only signed the morgage papers since I am tenants of the entirely.
I didnt sign the promissary note just my wife did.

So If I am correct my credit will be safe.
Please confirm

thanks

jerry · Posted: Thu Apr 30, 2009 7:18 am Post subject:

Hi Guest,

If you did not sign on the promissory note, you are not legally bound to pay off the debt. If your wife defaults, her credit score will be affected as she had signed the note. But your credit will be safe. You said you had signed the mortgage papers. But I believe you are not listed on the loan as a co-borrwer. Am I correct?

Thanks,

Jerry

savior70 · Posted: Mon May 04, 2009 7:38 am Post subject:

Hi

Since you didn't sign the promissory note you are free from the obligation of repaying the mortgage. So, in case of a default or a foreclosure, your credit won't be damaged.

Guest

My husband and I are refinancing. Both have excellent credit. Are there advantages/disadvantages to my name NOT on mortgage and also Not on DEED?

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