Why does florida require a married person to put thier spouse on a new mortgage .?
545293
I am assuming that you are talking about when both the husband and wife are owners of the property but only one of them (let's say the husband) is on the loan.  \n\nThe mortgage is the security instrument for the loan.  It says that the owners of the property acknowledge that if the loan is not paid then the lender has the right to foreclose on the property and sell it.  In order for this security instrument to be effective, ALL owners of the property must sign.  \n\nBy signing the mortgage the wife is not assuming responsibility to pay back the loan.  She is merely giving her permission for the property to be sold to pay back the loan in the event her husband fails to pay.  If the loan were for $100,000 and the husband did not pay it back, and if the bank foreclosed and was able to sell the property for only $80,000, the bank could sue the husband personally for the balance but could not sue the wife.\n\nThe only way I know of to avoid this is if the wife gives her husband a deed giving up all of her ownership interest in the property.  Then her husband would be the only owner and would be the only one required to sign the mortgage.  I strongly recommend that you NOT do this.
789593
Depends on how willing to cooperate each party is. Sometimes the dad will say "Oh you keep the house b/c you have the kids more often"  she also gets the mortgage payment then too. If a mutual aggreement can not be made or a 50/50 split is not agreed upon then a mediator can be called in to decide for the couple who is better off with what and why. Then anything that can not be divided is sold and the profits spit 50/50.
225838
If you have lousy credit, the lender will probably not let you take over the mortgage.   Your avatar is a female but you have a wife.  This is confusing.
419113
The "marriage penalty" no longer exists.  So, it is no longer intrinsically better to file separately.  Some couples though, dependant on their holdings, may get a better deal by filing seperately.\n\nJust for the record, people who are getting divorced are not actually divorced.  They can still file jointly.  And if they own a home, they both benefit from the credit if they file jointly.  Otherwise, only one gets the credit.
75691
My guess is that it would be just like it is here is SC.  There is no law requireing homeowners insurance.  The requirment is imposed on the owner by the lender when they finance.
405335
The rules apply to all your accounts and also to the accounts of relatives.  So you can not use an account of a spouse or child to get around the rules.
666624
Yes, it is necessary. Now that are married you are responsible for each others bills. If something horrible were to happen like an accident and he couldn't work or gosh forbid he should pass, you are looking at a lot of creditors wanting what your husband owes them to be paid. Also, you might be able to consolidate and save, for example, car insurance. There is usually a discount to have you both on one plan versus two seperate policies.
454179
You have to check with your states Friend of the Court or whatever they have.I think that it differs from state to state.In Michigan I don't think it does.It is set at time of divorce and then if you remarry, I don't think that she can ask for more if your new wife has a good job. But I am sure some money grubbers try.
1162754
He should file now and you two start out fresh.  Keep separate accounts for now and both try to build up credit.  My husband had debt from previous marriage and it will effect you also.  Anything that shows up on his credit will affect you when you try to buy a house or both signatures are needed to make a big purchase such as a car.  Doesn't matter when it occurred.  I had to pay off my husbands utility bill from a previous marriage before the electricity could be turned on in our new place.
46547
The person who is on the loan is financially obligated.  She can apply for a mortgage on the house herself, if you don't want to lose the house.  If you are getting a divorce, you can put in the decree that she is somewhat responsible for the repayment of the mortgage.  However, the mortgage company can't make her pay because she is not on the loan.  The decree doesn't supercede the original mortgage.  Technically she would owe you the money, not the bank & if she defaults on that you can take her to court.  You should talk to you mortgage company and a lawyer.
381392
There is no difference for you. if she is pressuring you to refinance and put her on the loan, explain to her that it costs money to refinance and typically you will be rolling the closing costs into the new loan thus eating up equity. and risking getting a higher interest rate which equals higher payments. If she wants to do it for credit reporting reasons, there are other ways to bring ones credit score up. Now you can go down to your title company or equivilant to, and have her put on the deed of trust, but if you are married and live in a community property state, then guess what half the house is hers anyways and problem solved. I think that is what people are telling you that by law she has to be on title, no the correct answer is by law half the home is already hers, and if you were to buy another home under your name her being your wife would have to sign at closing on the deed of trust because of community property state laws, but if you don't live in a community property state then no it is not required by law.
795484
This is a sticky situation. First, I'm going to assume that your husband was on the original note and mortgage with his prior wife, therefore, he is obligated to make those payments when she does not, regardless of the divorce decree. It's crummy, I know. Sure, she can be held in contempt, but that really doesn't help you and your hubby out. My suggestion is this: Call the mortgage company that holds the note. Or rather, have your husband called. As he is on the note, he has a right to access any of the information. Have him explain the situation to the mortgage broker and find out what help they can offer him. Next, find an attorney that will sit down with you and find out what they suggest you do legally with the ex-wife. \n\nI can relate, as my divorce attorney suggested that all I needed to do was sign a quit claim deed to "remove" myself from the property. Luckily, working in the industry, I did know better, but it really bothers me that this is so common. Please keep us posted, I'll keep you and your hubby in my thoughts in the hopes that this works out for you.
322765
That's definitely a question best handled by the professionals involved, like your realtor and your attorney. Just don't know, it'll be different from state-to-state. Plz talk to your attorney!
580779
YES.\nI owned a home with my ex and I had to refinance and he had to sign a "Quit Claim Deed" which basically allowed me to re-finance without him.  If you do not refinance, then your current lender still thinks you both owe them regardless of your marital status.
191327
On a federal level there are no affects to transferring assets between spouses.  Some states such as California are community property states, which means that all assets are considered to be owned by both spouses.
872121
Your story is very complicated i suggest that you see an AR lawyer specializing in estates.\nBelow is a brief outline of the law.\nThe property that each spouse brings into the marriage, that is, the property that s/he owned before the marriage, is considered to be "separate" or "non-marital" property. For the property to remain separate, the spouse must keep it apart from marital or community property; that is, s/he would keep it entirely in his/her name. Once the separate property has been commingled (mixed) with marital or community property, it becomes part of the marital property.\nFor example, consider a bank account with $10,000 in it owned by woman before her marriage. This woman then marries and both she and her husband regularly deposit their respective paychecks into the account and periodically withdraw money to pay for their living expenses. At the time of separation twenty years later, the bank account has $5,000 in it. Since marital property has gone into it (deposits of the paychecks and marital or community debts have been paid from it is impossible to trace the original separate property money from that of marital or community property. The result is that this bank account has changed from separate property to marital property.\nSome states, such as California, have a separate property rule that says that all property brought into the marriage, (including gifts and inheritance), that is kept separate and apart from community property remains the separate property of the spouse that owns it.
1135221
no sorry i haven't and i lived in pa my whole life. sounds rough though and another good reason not to risk your home to finance something else, sorry i hope it works out for you. hopefully your spouse will have the descency to realize loan or not the home is yours and they shouldn't mess with it.