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bjc12761 · Joined: 05 May 2009 Posts: 1 1.37 Dollars($)

How can a bank issue a mortgage to someone who does not have a vested interest in the property being mortgaged? I have a couple that purchased a home (Massachusetts) prior to marriage in 97. The future husband had bad credit so the mortgage and deed were put in the future wife's name along w/ her parents. They were married in 98. In 2007 the property was conveyed solely to the wife (but husband was told he was being put on deed as well). I did a title rundown - there is a 155K mort in 2004 in husband and wife's name but NO deed in both their names - title to property still remains in just wife's name. How could a bank authorize this mortgage?

gmakerley · Posted: Sat May 09, 2009 10:17 am Post subject:

the husband can be a borrower without being an owner. this has been the case for as long as i've been around (and that's a while).

SSPINGARN · Posted: Sat May 09, 2009 10:17 am Post subject:

GEORGE IS CORRECT

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Do you have to be on the deed to be on the mortage