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Is it possible for someone to be on the mortgage but not the deed?

by timothy.brandt337 from Tujunga, California. May 5th 2014 Reply


Al Hensling (alhensling)
#435 ranked lender in California - 14 contributions

Yes it is possible to have someone responsible for the Mortgage Obligation and not have any claim to the property.

May 5th 2014
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Dan Marchiando (dan@yourbestinterest.net)
#471 ranked lender in California - 29 contributions

Hi Tim,You can have occupying co-borrowers, like a spouse, and non-occupying co-borrowers, also referred to as co-signers. These co-borrowers/co-signers have to be on title at loan closing for conventional loans, but the rules don't specify a percentage, so they could just have a fractional interest. And in most cases, they can be taken off title after the loan closes. It is possible to have co-owners (like a spouse) who sign the Trust Deed, but who don't sign the note (basically the reverse of what you're asking). So they are consenting to the loan being put against the property by signing the TD, but they are not obligated on the repayment of the note itself. This is usually done when one of the owners has credit issues. If you have questions about this, you can contact me through my profile. Regards, Dan Marchiando, a California mortgage broker.

May 5th 2014
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Dr. Shab Kavandi (skavandi)
#469 ranked lender in California - 53 contributions

Yes absolutely!

May 5th 2014
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Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

If you are looking to include someone on the mortgage for the purposes of qualifying most loans do not allow it with non-occupants. FHA insured loans areperhaps the most utilized loans in this case. But as Dan commented, they willneed to go on the title at the time of closing, and get off title afterwards.

May 6th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,944 contributions

Generally no... but technically yes. The lender will require everyone on the loan application to also go into title of the property. Once the loan is closed, you can usually quit claim that person off the title, although they will still be on the loan. A divorce is a common situation where you see this. Both people bought the house, but now one has left. www.MortgagesUnlimited.biz

May 6th 2014
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