Anonymous
04/04/2013 11:17
Subject: Would you ask for joint title on a condo DH bought when he was single and in this circumstance?
Anonymous wrote:Anonymous wrote:I wouldn't worry about a such a heavily mortgaged asset. But to flip the question, how would you feel about putting your name on the mortgage, as well? You could refi and put both your names on the title and the mortgage. That would be fair.....
What bank would allow an unemployed person to be added to the loan?
Any bank, so long as the employed person has sufficient income to service the loan.
Anonymous
04/02/2013 17:39
Subject: Would you ask for joint title on a condo DH bought when he was single and in this circumstance?
Anonymous wrote:I wouldn't worry about a such a heavily mortgaged asset. But to flip the question, how would you feel about putting your name on the mortgage, as well? You could refi and put both your names on the title and the mortgage. That would be fair.....
What bank would allow an unemployed person to be added to the loan?
Anonymous
03/30/2013 09:25
Subject: Re:Would you ask for joint title on a condo DH bought when he was single and in this circumstance?
I think, you should imagine if this was your daughter that had the 340K condo, a second 35K condo and a husband that wants to be added to the titles, what advice would you give her?
I would honestly feel that the one property she purchased pre-marriage and that the mortgage was completely paid by DD should stay in her name. However, I would hope she figured out a way to make it easy for her spouse to get the assets in case of death AND make sure her children are financially protected if she dies and her spouse re-marries.
With the 35K condo, it her husband contributed to pay off the loan,, he should be on the title. I don't think it would reflect well on her to keep it solely in her name yet have DH paying off then loan. Insould hope that is their joint rental property.
Finally, if my daughter had 3 individual bank accounts, same advice that in case of death, spouse needs to be able to access it or you could risk the asset because he/she can't pay the mortgage or could be trying to save an asset without clear cut ownership. Discussed the 35K condo and bank act for the condo should be joint. The final mysterious individual acct, well my parents were always a big proponent that a woma should have her own bank acct , not that you keep all the money there but just enough should your like become a Lifetime movie, you can cover the mortgage for a few months.
I would honestly feel that the one property she purchased pre-marriage and that the mortgage was completely paid by DD should stay in her name. However, I would hope she figured out a way to make it easy for her spouse to get the assets in case of death AND make sure her children are financially protected if she dies and her spouse re-marries.
With the 35K condo, it her husband contributed to pay off the loan,, he should be on the title. I don't think it would reflect well on her to keep it solely in her name yet have DH paying off then loan. Insould hope that is their joint rental property.
Finally, if my daughter had 3 individual bank accounts, same advice that in case of death, spouse needs to be able to access it or you could risk the asset because he/she can't pay the mortgage or could be trying to save an asset without clear cut ownership. Discussed the 35K condo and bank act for the condo should be joint. The final mysterious individual acct, well my parents were always a big proponent that a woma should have her own bank acct , not that you keep all the money there but just enough should your like become a Lifetime movie, you can cover the mortgage for a few months.