Legal Question in Real Estate Law in Michigan

Name(s) on mortgage

We are refinancing our home. Our broker (a close friend of my brother-

in-law) has sent us an application package using only my wife's credit

information, and has not listed me as co-borrower(although I am listed

as joint tenant). He has not even indicated that my signature is

necessary on the application. (I am self-employed, and have made very

little money as I have started up the business) Our current mortgage

lists my name first, and my wife's name is listed as co-borrower.

Will this affect my rights of ownership, and will my credit rating be

impacted at all?


Asked on 9/30/03, 5:54 pm

1 Answer from Attorneys
Gary Weingarden Gary D. Weingarden

Re: Name(s) on mortgage

1. No. Your ownership rights will stay the same. You should sign the mortgage and other documents when the time comes.

2. I asked an expert in the lending field about the effect on your credit score. She told me that your credit score might drop a little as a result of this transaction.

Good luck. If you have additional questions, please feel free to give me a call at 248.594.2718 x103

Read more
Answered on 10/06/03, 10:55 am


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