Legal Question in Real Estate Law in Pennsylvania
My husband and I were looking around for the best 30 yr mortgage rate. We were told that a getting started mortgage program was available based on our income. Only my husband would qualify to get this rate because his income allow is under the income requirement. So we were told his name can only be put on the mortgage and the deed to get this low rate. Can my name be put on the deed after closing on the house?
1 Answer from Attorneys
If only one of you qualifies based on income, it seems to me that putting the house in only his name just for the purpose of qualifying is in the ballpark of perpetrating a fraud. Also, changing title after closing is probably a violation of the mortgage, so it would be a default, giving the mortgage lender the right to foreclose. I would counsel a client against doing this.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
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