Can my husband get a home mortgage in his name only?

Question

I really have been trying to do research on this subject. I bought my home in March 2008, I was married in October 2008. My husband's name was never put on the mortgage and NO ASSUMPTION was ever done. No where on his credit report is this mortgage! So here are my questions...

If I foreclose/short sale will it affect his credit?

Can he go out right now and get a mortgage in HIS NAME only? We would still use my income as well but I would request NOT to be put on the mortgage.

I am not in foreclosure status on my home nor do I have any late payments (my credit score is 685 and his is 672). Our income to debt ratio ruining us!

Now, before the moral police come out this is just an explorator question. My home is $87K under water, I have been offered a better job (9K more a year plus we would be closer to family) in another state and the bank is refusing a short sale (because I am not foreclosure threat). WE are putting the home in the paper for rent but that is a risky move as well.

Answer 1

You are missing a MAJOR point. You and your husband CANNOT get a mortgage in his name only, while trying to use YOUR income and credit. That doesn't work. If you want YOUR income to be considered, then you also must be on the mortgage, and your credit scores,etc. will also be factored in.



Yes, your husband can go out and get a mortgage in his name only, BUT his income and credit scores must be sufficient to handle such mortgage with NO reference to YOU.

Answer 2

Yes, he can put the mortgage in his name only.

Only his salary will be considered for the mortgage.

But... new regulations require banks to check both spouses credit reports if married for any mortgage.

Answer 3

For many good reasons I did call (which I should of done a lot sooner) a foreclosure specialist lawyer 1-888-880-6716 who saved my home.He was able to stop the foreclosure process immediately and avoid permanent damaging effects of a foreclosure on my credit without any obligation as you can call for a free consultation to assess your situation.



There are a number of reasons at least to consult with an attorney when attempting to stop a bank from continuing with short sale/foreclosure.



The first reason the banks will have an army of attorneys pursuing the lawsuit or trustee sale. Many times, these bank-hired lawyers will not take calls from you the borrower, but would be willing to communicate with another attorney that is representing you. They speak the same language and know that they can make the process very time-consuming and difficult for each other.



Second, if you are attempting to save your home by fighting a lawsuit in court, it can pay to have an attorney look over the legal documents to search for mistakes. Even if you do not retain the attorney to represent you, you may benefit by having a short sale/foreclosure specialist lawyer familiar with the court rules examine the paperwork and process to ensure that is being done correctly.More than one homeowner has had their case thrown out of court due to failing to follow the rules of procedure.



Third reason to consider hiring an attorney is simply insurance against a corrupted system, especially a corrupted judge. In cases where debtors represent themselves, the judge and bank's attorneys may ignore you the home owner while continuing the short sale/foreclosure process despite any claims that may be raised against it. If a lawyer on your side is present to object to this corruption, it may be far less likely to occur.



Fourth reason hiring a good short sale/foreclosure lawyer is that it can greatly benefit you as a homeowner as it can drag out the short sale/foreclosure process over several additional months. This can help keep you in your home saving even more money while the lawsuit is being worked out or another solution is negotiated.



While it is very possible to negotiate a good modification on one's own, hiring a lawyer just in case can also make a huge difference.You often end up with a temporary modification when you work on your own, but can get a permanent plan by retaining a lawyer to negotiate with the lender for you.



For the above reasons I did call a foreclosure specialist lawyer who saved my home.He was able to stop the foreclosure process immediately and avoid permanent damaging effects of a foreclosure on my credit without any obligation as you can call for a free consultation to assess your situation before it is too late to save your home from ugly predatory behavior of the banks



Don't delay and call now to save your home and credit rating before it is too late



My advise is to Call ASAP anonymously FREE Confidential Live professional Foreclosure Specialist Help Line without any obligation & save your Home before it is too late 1-888-880-6716 to get the help you need today

Hours of operation Mon-Fri 9:00 AM to 9:00 PM EST Only (to connect fastest press 1 once on the call)



You got nothing to lose when calling and everything to gain like saving your Home from Foreclosure but calling (which I should of done a lot sooner) is the first most important step,if you are serious.



Friend, I wish you the best of luck in your journey to Save your Home from Foreclosure which as every body knows is very stressful and won't be easy to get done but if I can do it with the right help then anybody can.

Answer 4

His credit will never be hurt by a debt that was never in his name.