Legal Question in Real Estate Law in Massachusetts

Mortgage

My wife and I both have good credit, but she originally applied for a mortgage in her name only. Is there any reason that this would be a problem, or should we re-apply jointly?


Asked on 12/17/07, 11:37 am

2 Answers from Attorneys

Re: Mortgage

The only reason it would be a problem is if she does not have enough income for the Mortgage by herself.

Also, you both are going to own the property, you both will have to sign the mortgage but if she is the only Borrower, then only she signs the note.

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Answered on 12/17/07, 1:30 pm
Michael Franklin Michael M. Franklin, Esq.

Re: Mortgage

Your more likely to get the loan with the 2 of you applying. Obviously, in this situation the mortgage company would consider that you would have a better ability to pay the loan with 2 incomes rather than one.

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Answered on 12/20/07, 5:23 pm


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