Posted on: 26th Aug, 2010 07:35 pm
i have been with my boyfriend for 4 years and he has a house with his name in it but we both live in it. if i want to take out a second mortgage, can i put my name in it as well? we have only been in this house for about a year. would it be a good idea to get a second mortgage? the mortgage itself was around $95,000 and our total debt we want to pay off is about $82,000.
Without more detail, I don't know what kind of answer you may get. The value of your home will play a large role in determining how much you can borrow, at what rate, etc. With a mortgage of less than $100K, it would seem you're in good shape, but of course that doesn't tell us what the value is. If you're eliminating all your debt and the payment would be affordable, then you may be wise in doing so. Again, however, I have no basis for saying that, from your post.
If you want better answers, please post more detailed information on what you're looking for, the reasons for it and the thinking (your own) on it. As for ownership, that's strictly between you and your fiance.
If you want better answers, please post more detailed information on what you're looking for, the reasons for it and the thinking (your own) on it. As for ownership, that's strictly between you and your fiance.