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Company Loan Type APR Est. Pmt.

if a spouse is on the deed but not the loan can she refinance the home

Posted on: 09th Jul, 2009 05:28 pm
the mortgage is in my name and my wife is on the deed with me. we need to refiance but i have a short sale on my credit with under two years seasoning. can we refinance under my wifes name or both names if needed. i think we will be denied using my name beccause of the short sale
Hi gspiccolo,

Your wife can refinance the property in her name. Her name is already on the deed. Now, if she has got a good credit and can show enough income, she can qualify for the refinance. As you have a short sale on your credit report, the lender might not be willing to put you on the loan. But if your wife qualifies on her own, she can definitely refinance the property solely in her name.
Posted on: 09th Jul, 2009 09:15 pm
she can do it. but she has to qualify for refinance. however you should always evaluate refinance cost as it is the right parameter to evaluate correctness of your decision.

While a lower interest rate will mean lower monthly payments and less total interest, a refinance will also mean paying closing costs and, in some cases, points. If the monthly savings exceed these closing costs, refinancing is a good option
Posted on: 10th Jul, 2009 07:47 am
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