Posted on: 08th Apr, 2014 01:06 pm
We live in NC: My fiance is refinancing. I will be contributing quite a bit financially. 1: Should I co-sign (which I assume doesn't put me on deed 2: If I do co-sign under my name, would I need to change paperwork after we marry in 3 months? And 3: Not co-sign & still contribute. Our concern is if he should pass, what happens to the property, would it pass to me?
1-If you cosign you will be added to the note and the deed
2- not sure how that works - I would call a title company and ask them
3- If he passes before you are married it would go to whomever he has willed it to - once married if he does not will it to someone else it would go to you - you would then be responsible for payments etc - the bank will try to get you to refi into your name but you are not obligated to and there is nothing they can do as long as payments are kept up
Good Luck
Let us know if you need any further help
Brian Barnes
ENG Lending - all 50 States
2- not sure how that works - I would call a title company and ask them
3- If he passes before you are married it would go to whomever he has willed it to - once married if he does not will it to someone else it would go to you - you would then be responsible for payments etc - the bank will try to get you to refi into your name but you are not obligated to and there is nothing they can do as long as payments are kept up
Good Luck
Let us know if you need any further help
Brian Barnes
ENG Lending - all 50 States