Posted on: 30th Aug, 2010 03:10 pm
i purchased a home over a year ago before i was married. only my name is on the mortgage and deed. now i am going to refinance to take advantage of a lower interest rate and because i am married, the lender is demanding that my wife sign on as a borrower on the mortgage making her responsible to maintain a property that she does not own. the property is my own individual asset as stated on a prenup. does she need to sign onto the mortgage in order for me to refinance? i'm in the state of wisconsin if that matters.
Hi pedretsc!
Welcome to forums!
As Wisconsin is a community property state, the lender is asking her to add her name to the mortgage while you refinance it. You should inform the lender that you've a prenuptial agreement with her which makes the house your individual asset. May be the lender would change his decision and let you refinance the loan alone.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As Wisconsin is a community property state, the lender is asking her to add her name to the mortgage while you refinance it. You should inform the lender that you've a prenuptial agreement with her which makes the house your individual asset. May be the lender would change his decision and let you refinance the loan alone.
Feel free to ask if you've further queries.
Sussane