Ask a Lawyer and Get Answers to Your Legal Questions
Good afternoon. Is the loan on the car solely in her name? You said one of the cars is under her name, but was not sure if that is for ownership or on the loan?
If you are buying the home solely in her name and you are not on the loan, then it would not have any negative effect if you were able to qualify and refinance the car, solely in your name and assume the financially responsibility. As I shared above, this MAY be a problem, because the car was sold to her based upon her credit and income so another lender or even the same one, may not allow you to assume the loan or refinance it in your name, since she was the security interest in the event of default.