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disclaimer

Vesting

I know that this is probably a really dumb question, but I need a refresher PLEASE! :) If a borrower has himself listed as "single," on every pertinent document within the file, then why would he be able to have the vesting on the title and mortgage as his name, another name, and it states that they are "husband and wife." How/why would he be able to do that? I would very much appreciate any feedback :)

Comment

Kellymatt24
31-05-2013

3 Answers

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Normally, the person who is on the title of the property, takes out the mortgage. If anyone is on the mortgage but not on the deed, then the lender asks that person to add his/her name on the property deed.

Comment

Anonymous | Asked on 2013-05-31

yes, if the lender finds out that the wife is not on the deed but the mortgage papers, then the lender can ask that person to add her as well.

Comment

toolboxrefinance | Asked on 2013-05-31

You cannot do that You are either single or married, cannot be both

Comment

jveenstra | Asked on 2013-05-31

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