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We are married, selling our home in Maryland and moving to Delaware.

My husband is 70 and I am 62. He is applying for the mortgage on the new home as I am a co-signer on student loans for both of our children and he felt that might be a deterrent in the mortgage approval.

If my name is not on the mortgage or deed to the new home, what will happen if my husband dies.

I am quite concerned that this is not the right thing to do, however, he has already submitted the paperwork and the mortage application process has begun.

Thanking you in advance -

Janice

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

janice, despite his having already submitted his application, that ought not to prevent you from being a co-owner of the home. now i say that without knowledge of the specific laws that may apply in the state of delaware - that's something you and he will want to check out.

as a general rule, however, a married couple can certainly own a home jointly, with only one of the spouses borrowing; so that shouldn't be a hindrance to you.

one other question that i'll raise - is there a will? if so, that will also supply you with the protection you desire. no matter what, however, i suggest you engage the services of legal counsel so that you can get specific answers to these questions as they apply in the state.

Like | Dislike | Share | Posted: Sat, 07/11/2009 - 05:05 | Post subject:

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