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Guest

Hi,
Recently my credit was ruined because of a near foreclosure which I eventually did a short sale. I have a few other properties that I purchase within the past 5 years that have a high interest rate. Because of my poor credit, it's difficult for me to refinance to current rates. Can I do a interspousal deed transfer or a quick claim to my wife and then refinance the mortgages in her name as she still has excellent credit? If so, from your experience would the mortgage companies ask for my credit report as well even though I'm no longer on title?

smithsussane · Posted: Mon Apr 04, 2011 9:19 pm Post subject:

Hi Timothy!

Welcome to forums!

You can transfer your property to your wife and she can get a mortgage on the property depending upon her credit scores and income. If you're no longer on the title of the property, the lender won't ask for your credit report.

Feel free to ask if you've further queries.

Sussane

Guest

Hi,
Can the lender ask for my tax returns if we are "married, but filed separately" when my wife is the one refinancing the mortgage and the title of the home is only her name?

Thanks.
Timothy

adonis · Posted: Tue Apr 05, 2011 7:34 pm Post subject:

Welcome Timothy,

If your wife is refinancing in her name and if the title of the property is in her name, then I don't think the lender will come after you and ask for your tax returns.

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