Posted on: 10th Dec, 2009 03:36 pm
I currently own my home and am in the process of refinancing. My husband is co-borrower. The bank's loan officer has said that my spouse needs to be added to the title, per the title company's requirement. The title company has told me it is the bank's requirement. I want to be the single title holder? How can this be accomplished?
Welcome jean,
As your husband is the co-borrower of the loan, the mortgage company wants him to be added on the property. You can contact other lenders to check out whether or not they have similar requirements for refinancing the loan. If not, then you can contact them and try to refinance the loan with one of them.
As your husband is the co-borrower of the loan, the mortgage company wants him to be added on the property. You can contact other lenders to check out whether or not they have similar requirements for refinancing the loan. If not, then you can contact them and try to refinance the loan with one of them.
If you need your husband to be on the loan with you to qualify, he will need to be on title as well. Adding him to title should be easy to do at closing or before with your title company's help.
If you dont want him on the loan, you will need to qualify on your own income and credit.
If you dont want him on the loan, you will need to qualify on your own income and credit.