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Joint Mortgage

Niicss

Posted on: 26th Apr, 2010 05:48 pm

i am legally separated from my husband and have full title to the house. we had a joint adjustable rate mortgage and i am wondering if i should refinance to get a fixed rate or leave it as is for tax reasons?

Total Reply : 3

You can refinance your adjustable rate mortgage into a fixed rate mortgage. This will help you becoming the owner of the loan. Also, your husband will be released from the liability of paying off the mortgage dues.

Niicss

Posted on: 28th Apr, 2010 01:57 am

Fixed rates are low. If you are are going to live in the property for 3 years or longer, I would refinance immediately to protect myself from future rising adjustable rates.

What possible tax reason would suggest you should not do so??

jveenstra

Posted on: 28th Apr, 2010 11:21 am

I have to agree with John. Rates are extremely low. Depending how long you're going to reside at your home and when the rate is due to adjust; I would definitely look into possibly refinancing.

tfaulhaber1

Posted on: 29th Apr, 2010 06:14 am

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