Go Back To Search Results Question Refinancing home in my name.? My husband and I have been married 2 years, live in Texas. He already had the house when we got married, he had bought it a year prior in his name only. Now we would like to refinance our home, our current mortgage company is Chase and we are having so many problems with them, they say we are behind with our payments even though I have proof we are not and they keep giving us the run around. Well we would just like to refinance with another company. Problem is hubby got into some financial trouble and his credit is horrible. I though have better credit, how would we refinance the home with my credit, I am not on the current chase loan (although we recently filed hardship and got new payment plan and I had to sign the papers as well, don't know why), and I'm not on the title/deed. How would we go about refinancing with my credit? Thanks for your help. By Apollo's Mommy Posted on 03/30/07 Total Answers 4 Answers- the best thing if he can sell you this home and have his name in title or to a friend i don' t know in taxes you can do that i mean h/w can sell each other may be not but if you sell to a friend then you can buy it back if the credit is bad and payment is late there is no way or talk to bank like wamu they may be able to help. hope i have helped Answer by : nighthawk On Date 2007-03-30 08:23:08 This is easy to accomplish. It only takes 1 person to qualify for a loan. I do not know the marriage laws in TX but up here in MN once you are married you both own real property equally. Those are the 2 parts of home ownership: who has interest in the home legally (husband and wife), and who is responsible for the mortgage (in this case, only your husband). To avoid you husbands credit issues, you should apply by yourself. Only your credit and wages will be used to approve the loan. Assuming you qualify (meaning your credit is good enough and your debt ratio is not too high), the refinance will proceed and you can get out of that Chase loan. The county you are in has a record of the lien on your property by Chase. They will require satisfaction(the title company will take care of this from the proceeds of the refi). Once Chase is paid off a new company will have the lien and the county will be notified. I mention this to sort of tie the two things together: ownership and the person responsible for the mtg. You will both own the property, which will have a lien on it, for which only you will be responsible. Your credit report will show the new loan, his will show the old loan as being paid. Incidentally, I have had other clients with similar problems as you are having with Chase. Check and see that they are not doing to you a thing we call a "rolling 30-day late". Meaning you are always making last months payment during the current month so you are a month behind. If you can prove-via cancelled checks-that you were never a month behind they should correct your husbands credit report. Unfortunately you have Chase and they can be a real pain in the A** to deal with. Hope this all helps. Answer by : thinking-guru On Date 2007-03-30 09:01:01 Most lenders will use the credit score of whoever makes the most income. However there are a few that will make the exception. It all depends on the situation at hand. Also; if there is proof that you were not behind on the mortgage, some (if not most) lenders will take that into consideration. If you would like more details, feel free to email me. I will be more than happy to help. Ngrant@pacifina.com Answer by : Nathan Grant On Date 2007-03-30 09:38:03 Hello..... You would not have to have your husband sell the home to you to accomplish your needs. Assumming you do not have a pre-payment penalty you could simply refi using your credit score and your husband's income. This type of refi is do-able, but is considered a sub-prime loan, which means your rate would not be as low. I work with Chase and hundreds of other mortgage companies and I can tell you that if you have a loan with Chase (who is not a subprime lender)...that would mean you probably have a decent rate- a better rate than you could ever get going subprime. I work with people everyday with similar situations. If you have any further questions.....email me at thejonesteam@meritlendinggroup.com. I hope this helps! Answer by : jonesk.loan@sbcglobal.net On Date 2007-04-02 14:37:43   Go Back To Search Results