Posted on: 24th Jul, 2009 02:38 am
Disclaimer Deed
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My wife recently bought a house here in Phoenix which will be our new residence. I was asked to sign a strongly worded document (disclaimer deed) that pretty much says I do not have any rights to the property. I was told that I could not be in the loan because I was unemployed at the time of closing. My wife also told me that because the loan is a FHA loan, the mortgage company required such disclaimer. I am feeling a little little uneasy because I will be paying mortgage towards a place and I will not have any rights to it whatsoever (I believe not even in a divorce situtation). Could this situtaion be corrected once I get a job and make a regular salary? in other words, Could my name also appear as an owner of the house?
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My wife recently bought a house here in Phoenix which will be our new residence. I was asked to sign a strongly worded document (disclaimer deed) that pretty much says I do not have any rights to the property. I was told that I could not be in the loan because I was unemployed at the time of closing. My wife also told me that because the loan is a FHA loan, the mortgage company required such disclaimer. I am feeling a little little uneasy because I will be paying mortgage towards a place and I will not have any rights to it whatsoever (I believe not even in a divorce situtation). Could this situtaion be corrected once I get a job and make a regular salary? in other words, Could my name also appear as an owner of the house?
hi rrojas,
once you are employed and have a stable income, you can add your name to the property deed as an owner of the property. however, you will have to inform your lender about it. once your name is added to the property deed, then both of you can refinance the mortgage.
thanks
once you are employed and have a stable income, you can add your name to the property deed as an owner of the property. however, you will have to inform your lender about it. once your name is added to the property deed, then both of you can refinance the mortgage.
thanks