Legal Question in Real Estate Law in Massachusetts

Can you be on home deed if you are not on the loan?

I have a legal question. It is very simple, however, I cannot afford an attorney to ask. Can you help me?

My fiance and I have been together for almost eight years now. We have rented apartments all this time, but we've decided to buy ''our'' first home. We both have bad credit, but the only thing that saves him is an extraordinary income, I don't have a good income. So when he went to apply for a mortgage, he assumed to do it on his own so we would have a better chance to get it rather than stir anything up with my credit history. Now we are about to get our new home, ( in his name) and I feel bitter sweet. My question is, Can I be on the deed or title if I am not on the loan?

Please help if you can.

Jessica


Asked on 6/16/04, 11:00 am

2 Answers from Attorneys

Re: Can you be on home deed if you are not on the loan?

You can be on the Deed, but you will need the Mortgage Company's premission. They will likely require you to sign the Mortgage. You should contact the loan officer ASAP, assuming both you and your fiance have agreed this.

If you have additional questions, please feel free to contact me.

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Answered on 6/16/04, 12:57 pm
Robert Trant Law Office of Robert R. Trant

Re: Can you be on home deed if you are not on the loan?

It is possible to be on the deed and not on the loan documents (i.e., Note). You will need to obtain prior approval from the lender. You should contact the lender and explain that you both would like to be on the deed. Most times the lender will require you to sign the mortgage at the time of the closing. You should speak to the loan officer or mortgage broker handling the loan.

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Answered on 6/16/04, 11:12 am


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