adding name to mortgage

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My husband and I bought a house in December. Because of a judgment on my credit report, and the difficulty getting a mortgage nowadays, the house was put only in my husband's name. I finally cleared the judgments off all 3 credit bureaus. My Fico score is very good. How can I go about putting my name to the house? Does anyone know what costs are involved? Do you refinance?..............our loan is at 6%now. Question

brian1 · Posted: Thu Jul 10, 2008 6:17 pm Post subject:

You would likely have to refinance. With that rate there may be no financial benefit of doing this?

Brian

jenkin7 · Posted: Fri Jul 11, 2008 6:29 am Post subject:

Hello maritsadc.

Agree with Brian. Ask you husband to sign a quitclaim deed to you and then you will have refinance the mortgage on your name. But your present rates are good. I am not sure whether you can get lower rates than that or not. Shop for lenders and see if you can get lower rates Idea

evolovik26 · Posted: Fri Jul 11, 2008 9:49 am Post subject:

OK both guys that posted I think you misread the question cause your answers are misleading.
In order to get on the title of the home all your husband has to do is sign a quitclaim deed putting you on as one of the owners of the property. This typically costs less then $200 and can be done at any title company or by a real estate attorney.
Now if you want to get added on the mortgage you would have to refinance but that is not going to give you any ownership interest just the responsibility.
So a quitclaim deed is your solution.
If you were hopping to get the mortgage to reflect on your credit then you out of luck unless you refinance down the line.

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