Real Estate Law
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You likely already waived your homestead exemption when the property was originally financed. And, the lender wants to make sure it gets the right to foreclose on the property if the loan were to go into default. The advantage to refinancing is that the interest rate is likely being reduced significantly saving you and your husband thousands of dollars in interest over the term of the loan. You do want to insure that only the existing loan is being refinanced and that your husband isn't refinancing it for a much larger amount and draining the property of its equity. Also, I would require that your husband sign and deliver to you a quit claim deed transferring a 1/2 undivided interest in the property to you. The quit claim deed needs to be witnessed and notarized. Then, if your husband gets tricky down the road, you can record that deed giving you the 1/2 interest in the property.
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