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j
Joined: 13 Dec 2005 Posts: 3
| Posted: Tue Dec 13, 2005 7:41 pm Post subject: Adding spouse to title after foreclosure good or bad? | |
| My husband & I bought a home. I signed a quick claim deed to not add my name, due to medical collections. We had to fight to keep out of foreclosure. It did go into foreclosure. We did a FHA loan modification & continued making payments.
Our payments have been current for 29 mos., only one 30 day, in 37 mos total.
Should we add me to the loan for credit? I’m still reestablishing my credit. I'm not sure if this is good. The loan shows on his credit report as adverse on 2 of the recent checks. One just shows the number of times past 120 days & the other also states status/open/current, was a foreclosure.
Whatever, the answer, we would like to secure my right to ownership. If it is not best credit wise to add me how can we insure that I have joint right to our home. We are still making payments. We are planning to submit homestead papers with both names on that. Yet, currently only his name is on our home loan.
Thank you, J.
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Joined: 19 Jan 2005 Posts: 2248
| Posted: Wed Dec 14, 2005 12:24 am Post subject: | |
| You can not be added to a mortgage note. You can only be quit claimed on the deed.
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| | Back to top | |  | j
Joined: 13 Dec 2005 Posts: 3
| Posted: Wed Dec 14, 2005 3:31 am Post subject: adding name to home title & credit effect - prev foreclo | |
| We were mailed a letter from the mortgage company, as they stated regarding a title change to add spouse.
They need the deed transferring title to both names.
My question is regarding doing this, would this reflect on my credit report when I do. Good or bad. It's bad on his, yet with current payment status 29 months.
If it does, how would I best add my name in whatever way to protect my right to ownership without having it show on my credit or again what would you do? (considering all things)
Thanks again. J.
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