New marriage question

[fancy_92]

I have visited my lawyer and will be filing soon, I wanted to find out if I were to get married soon and my new husband added me to the mortgage would he have to refinance and does that mean my bk would increase his rate? I don't know much about any of this and am studying this website like crazy trying to figure it out! Thanks in advance

[lrprn]

I have visited my lawyer and will be filing soon, I wanted to find out if I were to get married soon and my new husband added me to the mortgage would he have to refinance and does that mean my bk would increase his rate? I don't know much about any of this and am studying this website like crazy trying to figure it out! Thanks in advance

If you are filing soon, please DO NOT allow your new husband to add you to the mortgage until your case is dismissed and closed! Are you planning to file Ch 7 or 13?

Mixing a new marriage with a new bankruptcy adds a great deal of complexity to your case. What did your lawyer say when you told him/her about these plans?

[fancy_92]

I didn't mention it...

I am not planning to get married in the middle of this, I am just inquiring for the after effects! I am glad that I asked now though, just in case we got a wild hair!! Now I know for sure to put it off til everything is closed Thanks!

Oh, I am planning a Chapter 7, if they only go by the last six months, I qualify no problem. If my company and union settle a contract the lawyer said he hoped that wouldn't force me into a 13, I made considerably more money before the lockout 8 almost 9 months ago!

[HHM]

First, is he going to put you on the "mortgage" or the "deed". There is no particular need to put you on the mortgage. But to answer your question, doing so (putting you on the mortgage) should not affect anything with the mortgage and I don't think he would have to refinance it to do it. Why does he want to put you on the mortgage anyway?

[no_it_all]

Not sure why you would want to <be on the mortgage> in the first place. Normally, both husband and wife are on a mortgage so the lender will qualify them financially for the loan. Obviously, your soon to be husband didn't need your income, or more specifically, the lender didn't need your income. They probably don't need it now. To put you <on the mortgage> would require a refinance. On the mortgage application one of you would be listed as borrower, the other would be co-borrower. Maybe you are thinking of the Deed instead? To file your name on the deed would cost about 5 bucks at the town clerks office. Of course you do all of this AFTER the BK, otherwise the house (and any equity) becomes part of the BK estate.