Legal Question in Real Estate Law in North Carolina

When refinancing a home owned before new marriage, why does the spouse have to b

I have owner my home in NC for approx. 18 yrs and remarried

4 yrs ago and wish to refi for a longer term, the bank states that my spouse has to be on the loan as it is NC law.

I do not wish for him to be on loan, how do I get around this?????????


Asked on 5/19/04, 9:10 am

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Re: When refinancing a home owned before new marriage, why does the spouse have

Your spouse needs to sign the Deed of Trust and a couple other documents. There is no way to get around that. Your spouse does not need to be a borrower - this means that if you qualify by yourself, your spouse will not sign the Promissory note and won't be personally liable for the amount of money borrowed.

Read more
Answered on 5/19/04, 9:40 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in North Carolina