Thread: Can w

help...Thanks!? My husband and I have a current mortgage and 2nd mortgage in both of our names. I am now a stay-at-home mom with no income. My husband has good credit and a decent income. I think he would qualify loan-to-income ratio wise.
I have OK credit and a lot of credit card debt (in my name only) which is how I paid for college.
Is there any reason we can't refinance both mortages into one in his name only? I plan to start my own business and would like to keep my debt down as much as possible. Is this a feasible/good idea? If so, would I have to quitclaim the house to him before we apply for the mortgage loan? Would we need to explain to the bank why we are doing this or would it matter?
Thanks for your help.

I would guess you might have to quit claim first but I am no lawyer. I would just go to the mortgage company and ask or call them. But quit claiming on the property would place you in a bad situation if there ever was a divorce. You would have no rights to the house at all. My husband signed one after we split up. I was the only one working anyway. We were owner financed by his step father so it wasn't a problem for me to pay off the house and get the deed in my name.

I would guess you might have to quit claim first but I am no lawyer. I would just go to the mortgage company and ask or call them. But quit claiming on the property would place you in a bad situation if there ever was a divorce. You would have no rights to the house at all. My husband signed one after we split up. I was the only one working anyway. We were owner financed by his step father so it wasn't a problem for me to pay off the house and get the deed in my name.