Can the bank come after my husband if he is on the title but

Hi Keri,

If your husbad is on the title, the bank and DSHS can come after your house to recover the money. Transferring the title to you at this point will not be possible as this would be considered as fraudulent conveyance and can thus be reversed.

i need to refinance an interest only loan on a lot. it is not worth what we paid for it but we still intend to build. will the bank require another down payment. we already put 35,000 down,

hi i have a house under my name only even in title and it going through foreclosure can my husbend buy another house on his name only he has good credit

Hi kiki,

In this market scenario, it is not very easy to get a refinance on a home that is upside down. It is not impossible though. There are no-down-payment refinancing options in the market for which the lender will look at your previous payment history and your affordability to make the refinance-payments. However, you will still be required to pay the closing costs and other fees. But it is better to make some down payments to reduce the interest rate and term of the loan.

Hi rose,

Since the foreclosure was only in your name, it won't affect your husband's credit. He can definitely buy a home in his name and finance it, provided he fulfils other eligibility-requirements set by the lender.

thnk you for your answer

Hi rose,

You are most welcome. However, if you have an other query, feel free to ask.

Me and my wife are devorcing the loan is in her name i was the co buyer at first the loan was transford to another lender and now my name is not on it, i am staying in the home but she has filed bank rupt she always did the bills and she did not pay any of mine i just found out my credit is shot she took all the money and i want to keep my home what can i do???

R.J...if your wife's name is on the property and the mortgage, then there are chances that the property will be liquidated to pay off the creditors. However, generally if the co-borrower is current on the payments, then his/her share of the money is returned to him/her. I don't think you'll be able to save the property.

my house is in forclosure in alabama, im on the deed, but im not on the loan. Can i be held $$ responsible ? & will it affect my credit ?

Hi madrona,

As your name is not on the loan documents, you'll not be held responsible for the mortgage payments when the property is foreclosed upon. Moreover, your credit will not get effected due to this foreclosure.

Thanks

my house is under my name only but will be refinanced under my husbands name only due to my credit score and not having a job, can my name still be in the title? from texas

Welcome lucy,

You will be able to keep your name on the title of the property. However, as your husband's name will be on the mortgage docs, he should have his name on the property deed as well.

My husband owns a house we lived in for 8 years and have tried to sell for the last 3 years with no luck. We purchased a new home 2 years ago and my son is currently living in the house we cant sell. we can no longer afford the payments and the bank says there are no programs to help modify our loan to a 30 year morgage to help us because it is considered an investment property because it is not our primary home. My question is; since the house is only in his name and the loan is only in his name will they come after me or our other home if he lets them forclose or does a deed in liu?

hi,

as your name is not mentioned on the property or the mortgage, the lender won't come after you if your husband lets the lender foreclose it or go for a deed in lieu of foreclosure. however, if your husband's name is mentioned on your primary residence, then the lender can place a lien on it in order to recover the deficient balance after a foreclosure.

thanks