Mortgage questions

[In NYC 0]

I have been living here for three months and still don't know much about legal implications on different things like having my name included in the mortgage my husband has or being the main holder in a joint bank account. Is there anyone here who could let me know the ups and downs for these situations?

Thanks!

[Mononoke28 135]

I have been living here for three months and still don't know much about legal implications on different things like having my name included in the mortgage my husband has or being the main holder in a joint bank account. Is there anyone here who could let me know the ups and downs for these situations?

Thanks!

People mainly do it to establish their credit here in the US because without credit or good credit it's pretty hard to get financed anywhere or even get employed in some cases since many companies now are not only doing background checks on the applicants, but credit checks as well. So it's very important to have that taken care of.

Other people like to share a bank account or even a mortgage for legal reasons. For example, you will need to send evidence to Remove Conditions on your green card and sending a document where both your names are written on it will show that you are still married. Or if someone passes away, it'll be easier to have the deceased assets transferred to the living spouse, etc.

There are many reasons for for sharing accounts but remember that it's all a personal choice, if you don't want to do it, you don't have to.

Diana

[In NYC 0]

Thank you Diana! I was just a bit concerned as I haven't done any research on the legal issues here.

[wratran 0]

I bought my house before i met my wife. She is on a K1 visa. I had my deed update with her name on it. It cost about $180 for the attorney fee. The attorney will send it directly to the county clerk. After that, you will get a sealed copy from the county. Contact a title company and get a recomendation on an attorney.

You cant really update the actual loan.