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Ask Ray Your Own Question
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 37061
Experience:  30 years in civil, probate, real estate, elder law
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Trying to refinance a house/does both the husband and wife

Customer Question

trying to refinance a house/does both the husband and wife have to sign for the loan even though the loan is only in the wife's name
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: nc
JA: Has anything been filed or reported?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: the house is in both names
Submitted: 29 days ago.
Category: Legal
Expert:  Ray replied 29 days ago.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Expert:  Ray replied 29 days ago.

The lender here controls this as to whether one or both are required on the note.Often it depends if one party has bead credit as to whether they want the other party on the note.Most cases the lender wants both parties in a refinance so both are on the hook.But I have seen cases where they would rather have only one.The lender makes the call, they have to approve the parties or they will not fund the loan.Most times it is both here as it protects the lender.

I appreciate the chance to help you today.Thanks again.

Customer: replied 29 days ago.
what if the person on the land refuses to sign and his name is ***** ***** land/ however the loan at present is in only the wife's name.
Expert:  Ray replied 29 days ago.

The lender here determines whether they will allow you to refinance here with one party on the loan.If you reach a stalemate then you have right to file suit for partition and force a sale of the property.See if lender will allow the refinance otherwise you may be looking at a forced sale through partition here

Customer: replied 29 days ago.
please answer question
Customer: replied 29 days ago.
no
Customer: replied 29 days ago.
I thought i had unlimited question
Expert:  Ray replied 29 days ago.

what if the person on the land refuses to sign and his name is ***** ***** land/ however the loan at present is in only the wife's name.

If the lender will agree to only one person on the loan the refinance will go through.If not the only remedy for the other person here is a forced sale of the property through the courts.You can do a suit to partition and court ordered sale.
The court would not order them to refinance here, assume a new debt but they will order a sale as a means to resolve this
.