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darrigo · Joined: 03 Nov 2009 Posts: 3 1.76 Dollars($)

My situation is different because the mortgage is based on my income ONLY, and my spouse is on the title and deed only. We are now separated due to domestic abuse, and divorce is pending. If he signs a quit claim, since his income was not included, doesn't that free him of any financial burden.
These other questions about both spouses being responsible for the mortgage is based on joint income.
Mine is solely based on mine.

sonjakracine · Joined: 24 Oct 2007 Posts: 77 15.05 Dollars($)

If he was never on the mortgage, then he was never financially responsible in the first place. He only had vested interest in the property. Joint income really has nothing to do with it. I take plenty of loans where one spouse has no income but by going on the note, they are making themselves financially responsible, job or no job.

darrigo · Joined: 03 Nov 2009 Posts: 3 1.76 Dollars($)

I don't mean to seem dense, but the reply seems to contradict itself. The first line says he wwas never financially responsible if he wasn't on the mortgage, but the last sentence says that he would be responsible job or no job.

Maybe the confusion for us is why would the mortgage lender make him sign the title and deed paperwork, if it wasn't necessary since the loan was based on my income only. We were told it was because we were married, and he HAD to be on the title and deed.

With a pending divorce, we were told that we needed a quit claim, or one of use needed to either purchase from the other or buy the other one out.

The house is in foreclosure with Wells Fargo, and I am in a modification program. I am making 3 trial payments, and in December, I will have to seek a new mortgage.

sonjakracine · Joined: 24 Oct 2007 Posts: 77 15.05 Dollars($)

Sorry for the confusion what I mean is if two parties apply for a mortgage and one does not work, they are both financially responsible. If one perosn is on the mortgage only and the other one on the title only then only the one on the mortgage is on the hook for the payment. I hope that a little more clear.

Sometimes it's not the mortgage company that requires the spouse sign the deed but the title company because they are abiding by varieng state laws. You can put anyone on the title you want and remove them just a quickly.

darrigo · Joined: 03 Nov 2009 Posts: 3 1.76 Dollars($)

Thank you. That explanation helps, especially when we were told during the refinance 2 yrs ago that we didn't have a choice, and he had to be on the title and deed because we are married.
I'll pass this information along to him.

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