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kmwahlstrom · Joined: 18 Nov 2009 Posts: 2 1.64 Dollars($)

I bought a house about 12 years ago - got Married 2 1/2 years ago. My name is the only name on the title, my name is the only name on the mortgage. We handle our finances seperatly - different bank accounts etc.
I want to refinance. My credit is pretty good aprox 770. My husbands is very bad <600.
To make things more complicated for me, we live in Wisconsin (common property state).
My husband is fine with staying off the title and mortgage.
Please give me some advice on how to proceed..
- Thanks

smithsussane · Posted: Wed Nov 18, 2009 7:57 pm Post subject:

Hi kmwahlstrom!

Welcome to forums!

As your credit score is quite good, you will be able to refinance the mortgage in your name alone. You won't need your husband to co-sign for the mortgage. As Wisconsin is a community property state, the lender may ask your husband to sign an interspousal transfer deed thereby giving away all interest in the property. This will make it your separate property. Once he signs the deed, I don't think you would face any issues in getting a refinance.

Feel free to ask if you've further queries.

Sussane

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How to Refinance with no co-sign in Common Property State