Posted: Mon Dec 01, 2008 8:27 am Post subject: CAN TWO DIFFERENT NAMES GO ON A HOUSE DEED WHEN ONLY ONE PE
CAN TWO DIFFERENT NAMES GO ON A HOUSE DEED WHEN ONLY ONE PERSONS SIGN THE BANK MORTAGE LOAN?...COUPLE ENGAGED NOT MARRIED YET PLANNING TO BUY A HOME IN STATE OF PA. MORTAGE COMMITMENT WILL BE ONLY IN THE MALES NAME CAN THE FEMALE NAME GO ON THE TITLE OF THE HOUSE DEED ALONG WITH HIS?
As far as I know, it is possible to take the mortgage in the name of one person whereas both the names can be on the deed. However, you should inform the lender about this. At times, the lender may want both the persons to be on the loan docs as well.
Feel free to ask if you have further queries.
Sussane
karastin Guest
Posted: Tue Jul 14, 2009 11:38 am Post subject: One person on loan, two on deed
My son and his girlfried bought a home, the loan is in her name and the deed is both names. They broke up, she moved out, she told my son he has 30 days to get a loan for the house, because she is not making any more paymentd in her name. My son has made all the house payments on time for the past four years and has put $20,000.00 in updates in the home. She will not give hime the mortgage information, coupon book. He knows the bank is Franklin something? What are our rights?
You have mentioned that the loan is in the name of your son's girlfriend. In that case, if the loan gets defaulted, it's the girlfriend's credit which will get effected. The lender cannot sue your son for the payments. It would be better if your son transfers the property in his girlfriend's name and removes his name from the property. Thus, he will not remain liable for the property even. However, as your son's name is in the property deed, he can claim a certain portion of the equity from the property, if any. _________________ Procrastination is the enemy of your financial success
Luby Lips Guest
Posted: Mon Oct 12, 2009 8:57 am Post subject: stress???
My mum left a property in my name but the mortgage is in My brothers name and he has rented it out and is taking all the money because I am not living there and he also remorgaged the property and took out £25,000 for his business which did not work..I'm a single parent with two kids with a lot of debts and trying to make ends meet..A solicitor is dealing with my case and only gives me information when I phone what do I do...He is applying for legal aid for my brother to go court..but the application has not been sent yet!!still
As the property is in your name, you are the owner of the property but you won't be responsible for the mortgage dues. Your brother holds the mortgage. He would be responsible for paying it off. Moreover, if he defaults the loan, then his credit would be badly affected.
If you want the property and the mortgage both in your name, then you'll have to refinance the mortgage and add your name.
Feel free to ask if you've further queries.
Sussane
Dee Guest
Posted: Thu Mar 18, 2010 8:24 pm Post subject: mobil home
The deed for the mobil home my partner and I purchased is in both our names. We broke up. Can I legally enter the mobil home to get my stuff. It is a summer vacation home and I purchased alot of the items in it. Can I remove the items I purchased?
As you are listed on the property deed, you would be considered as the property owner. You can definitely enter into that property and get the stuffs that you had purchased.
cathygorcsos
