If our mortgage is in wife’s name but we are both on the title, can she sell me the house?

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If our mortgage is in wife’s name but we are both on the title, can she sell me the house?

At the time of purchase best option was to go with her credit line with me off it. So mortgage was in her name. They put both of us on title. Now we would like to modify/refinance but don’t qualify for most programs. My credit is better now and would like to see if she could sell me the house so we can get lower interest rate. Is this feasible and what kind of hit would we take?

Asked on August 27, 2012 under Real Estate Law, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

So now you wish to do the opposite, correct?  As long as the new lender will finance the house in your name only then the old lender should have no issue.  They would be paid off (there is no pre-payment penalty, correct?). Good luck.


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