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GlennB55
recently joined

Reged: 01/17/10
Posts: 5

Refi and Deed

#730490 - 02/13/11 10:14 AM

Hi...we are seperated. Wife wants to refi house in her name yet I will stay on the deed.

I understand there is some risk for her by doing this but if we end up divorced, how will this look for me? There is a gtood chunk of equity available in home...by doing this, will it affect my ability to receive any equity?

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DedicatedDad
veteran

Reged: 09/05/04
Posts: 1318

Re: Refi and Deed

[Re: GlennB55]
#730491 - 02/13/11 10:23 AM

There's no reason to keep you on the deed after the refinance. She's pays you whatever you are entitled to, then you do a quit claim to deed the property to her...but not until AFTER you get your share.

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GlennB55
recently joined

Reged: 01/17/10
Posts: 5

Re: Refi and Deed

[Re: DedicatedDad]
#730492 - 02/13/11 10:36 AM

We are not sure if a divorce is going to happen but it makes sense to refi now. I am staying on the deed but mortgage is on her. Will this hurt me down the road if we divorce is my question?

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DedicatedDad
veteran

Reged: 09/05/04
Posts: 1318

Re: Refi and Deed

[Re: GlennB55]
#730493 - 02/13/11 10:46 AM

It is the best of both worlds for you. This should not have any affect on what you are entitled to, but should she (or both of you if still married) default on the loan, it does not effect your credit.

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