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House that was originally in hubby's and prior wife's name (they
separated in 1995 and their divorce was finalized in early 1999) was
refinanced yesterday. Notary came and the note (loan), deed (title)
all states: "(husband's name), a married man as his sole and separate
property."
Brief history: When we were first married in 1999, I asked my hubby,
if after 5 years, if we could sell this house and buy one of our own?
I really had hoped we could have a 'home of our own.' We can certainly
afford one of our own. My hubby said that he thought this was
reasonable request. When this was brought up a couple of months ago
(we've been married for five years), he said that because housing
rates are so high now, it made the most financial sense for us to
refinance the house we are in, adding that I could be added to the
note (loan) and put on the title. This is not what happened.
My husband said that the lender recommended he not put me on the note
(loan) due to my prior 1995 Bankruptcy and foreclosure, as it could
possibly affect our ability to qualify for the low interest rate. My
hubby said that he needed to take out the loan alone, but would still
put me on the title. The paperwork I saw last night does not include
me at all. My FICO score is above 750 right now, so I am not sure
how I could have adversely affected our ability to qualify for a good
loan?
California is a community property state...how is it that the lender
would have processed all the paperwork with only my husband's name?
Is it possible that the lender does not understand California law?
Shouldn't have I been required to sign something last night (like a
quit claim deed, or financial waiver, etc.)? How is it that my
husband was able to do all of that, without my participation?
Also, what is entailed in getting the deed/title modified to include
me? Is it complicated? It seems it should have been done now while
all this stuff is being filed. It doens't make much sense to me. Is
it possible the lender messed up, and won't admit it? My husband
mentioned that the lender only provides a free "courtesy deed", and
this is probably why I was excluded...as he is the only one named on
the note (loan). Where do we go to take care of this?
Thank you so much!
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