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What happen when my husbandname on the loan alone?

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terryttsyt Joined: 03 Jul 2009 Posts: 1 1.33 Dollars($)	Posted: Fri Jul 03, 2009 2:25 pm    Post subject: What happen when my husbandname on the loan alone? Like 0 Dislike 0 Hi, I have question we refinance the house my Husband is the only one who borrow the Loan, and I have signed the Deed of tranfer interspouse form, The detail of the form said that This is not change the ouwner ship " because if I my name on the same loan the interest is higher than if my husband stand on the loan by himsef. My question is if something happen to him Do I lost the house?if my name is not on the loan. Thanks, Terry
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Fri Jul 03, 2009 11:16 pm    Post subject: Like 0 Dislike 0 Hi Terry, Quote: The detail of the form said that This is not change the ouwner ship If the details of the inter-spousal deed mention that the ownership has not changed, then you should not lose the house, in case something happens to your husband. He can also prepare a will and leave the property in your name, to be on a safe side. But as there is a mortgage against the property, you will have to keep making the payments on time. If you stop payments, you can lose the house to foreclosure.
robertsmith2005 Joined: 22 May 2009 Posts: 338 -0.48 Dollars($)	Posted: Sat Jul 04, 2009 3:53 am    Post subject: Like 0 Dislike 0 Yes, as a safety measure ask your husband for a willin your name.

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