Legal Question in Real Estate Law in New Jersey
Would it be possible for me to apply for a mortgage to buy a house, but have both me and my spouse's name on the deed? My credit is significantly better than my husbands, who is disabled and also does not work.
1 Answer from Attorneys
Yes, many times only one spouse will apply for the mortgage and both spouse's names will be placed on the deed. The none applying spouse will have to sign some documents at the closing that will be required by the lender, one of them being the mortgage that will be recorded with the County Clerk. There is a requirement that the non-borrowing spouse acknowledge that the mortage is being placed on the property if the property is a marital home. He or she will not sign the Note however, which is the obligation and promise to pay the lender.
I would be happy to answer any questions that you may have.
Anthony P. Bufano, Esq.
(732) 530-0222
Fair Haven, NJ
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
