re buying a house

[giraffemd 0]

Here is the scoop..... We are planning on buying a house......I can qualify for a mortgage because of my job and I have been developing great credit history here....hubby (USC), on the other hand, has far less than stellar credit history, and so can not qualify to borrow....therefore it will only be my name on the mortgage......as we will be lifting conditions in July 08, will that raise any concerns with USCIS, that we are not buying this house jointly.....any suggestions or comments??????? thanks

[tweety 1]

Well, if not both of your names are on the mortgage then just don't include it as evidence. You don't have to submit every piece of evidence listed on the I751 form as examples of what people may submit. E.g. we didn't submit our rental agreement, since it is only in my husbands name. Just submit the evidence that supports your case, don't submit evidence that might work against you. Just my 2cents.

Edited March 13, 2007 by tweety

[pulteseller 0]

I sell homes for a living. It's a common situation when one spouse has credit issues that the other be the only one listed on the loan application and mortgage. After you close on your home both husband and wife have legal ownership. What you can do in most states is add your spouse to the deed. Any real estate attorney can do this, and you can probably do it yourself at the courthouse where your original deed is recorded. I've heard it called quit claim or quick claim deed.

If for some reason the USCIS wanted to see your mortgage, you could explain the situation and provide the new deed showing both names.

[JT4/25 38]

I was able to add my husband to the deed/mortgage/real estate taxes even though he had zero on his credit report (due to not having worked for the 2 full years the mortgage companies wanted to see). You can definitely add him to the deed...just inquire about it.

[meauxna 15]

I added him to the deed instead of changing the mortgage (and my good terms).

[Flames9_RN 358]

Me being the Cdn and chilling--well going to school,lol I'm not on the mortgage, but am on the deed/title!! Thus attached a copy of the title.

[giraffemd 0]

thanks for the info...hope to have a new home soon

[Yodrak 7]

I didn't add my wife to the deed. I've got a very attractive interest rate and I don't want to give the mortgage holder any excuse to try to call in the loan. I understand that mortgage lenders do not like to have someone be an owner of a property who is not also obligated to pay the loan that the property backs?

Yodrak

I added him to the deed instead of changing the mortgage (and my good terms).

[Flames9_RN 358]

I didn't add my wife to the deed. I've got a very attractive interest rate and I don't want to give the mortgage holder any excuse to try to call in the loan. I understand that mortgage lenders do not like to have someone be an owner of a property who is not also obligated to pay the loan that the property backs?

Yodrak

I added him to the deed instead of changing the mortgage (and my good terms).

Not sure where u heard that. When we shopped for a mortgage, we asked if it was a problem that I would not be on the mortgage, but would be on the tilte/deed, not one cared. I know of a few American friends, was the same thing. One had wrecked their credit in the past, thus only 1 was on the mortgage, but both on title. Of course their may be soem that would have a problem, but one can always shop around.

Edited March 15, 2007 by flames9

[meauxna 15]

It has never come up.. I presume the lender *could* have been notified of the change, but I don't think so. The County takes 3-6 months to send notice of the recording. Perhaps the lender would have that prejudice at the onset of a loan?

I also had a great rate and since my employment situation had changed considerably, I didn't want to refinance either. As it turned out, I was able to do a rate change refi with no docs as long as I wasn't adding another borrower, so it worked out fine for us to do it this way.

My mortgage broker and title company rep tipped me to the option of simply adding the DAH to the deed. The title company executed the quit claim deed.

At the time, it was a very important step for us. I don't regret it even if it wasn't the savviest financial move I ever made. It was certainly one of the best personal decisions I ever made.

hola, by the way--long time!

I didn't add my wife to the deed. I've got a very attractive interest rate and I don't want to give the mortgage holder any excuse to try to call in the loan. I understand that mortgage lenders do not like to have someone be an owner of a property who is not also obligated to pay the loan that the property backs?

Yodrak

I added him to the deed instead of changing the mortgage (and my good terms).

[tnh9479 1]

When I refinanced the loan (before my husband had his green card) I was told it was the law in my state that your spouse's name be on the deed. I am sure it varies from state to state.

[metta 0]

In North Carolina, state law requires both husband and and wife be named in the deed. I sold my house and bought a new one after we go married so both our names are on the deed though the mortgage is in my name.