Refinace house that is in my Wife's name, I am on the deed

[Anonymous]

I have a question, I tried searching but I must not know what terms to use.

8.5 years ago my wife and I bought a house in GA. My credit was not worthy at the time and hers was ok at best, We put 50K down on a 170K house, so that got the deal done (pre economy crash). The rates at that time were higher and I think we got a 6.25%.

We have never refinanced, however the loan has changed hands a couple times.

I was not able to be on the loan, but after closing we went and had my name put on the deed with our county.

Fast forward to now...

My credit is ok - 720-760 depending on what version, only bad was slow pay on a cap 1 card in 2012 - only debt is a 20K car loan - stable employment with enough income

I want to refinance the house and I would like to do it my name only, her name can be on the deed - basically the same as before but swapped roles.

My wife can not be on the loan, as she has some severe credit problems.

I want to reduce my rate and refi for 15 years.

Is this possible without her 'selling' me the house?

What steps should I take? Who should I talk to?

Thanks!!!!

[StartingOver10]

Yes you can refinance without her "selling" the house to you. You are both on the deed. GA is not a community property state. You just have to qualify for the loan like usual.

[Anonymous]

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@Anonymous wrote:

I have a question, I tried searching but I must not know what terms to use.

8.5 years ago my wife and I bought a house in GA. My credit was not worthy at the time and hers was ok at best, We put 50K down on a 170K house, so that got the deal done (pre economy crash). The rates at that time were higher and I think we got a 6.25%.

We have never refinanced, however the loan has changed hands a couple times.

I was not able to be on the loan, but after closing we went and had my name put on the deed with our county.

Fast forward to now...

My credit is ok - 720-760 depending on what version, only bad was slow pay on a cap 1 card in 2012 - only debt is a 20K car loan - stable employment with enough income

I want to refinance the house and I would like to do it my name only, her name can be on the deed - basically the same as before but swapped roles.

My wife can not be on the loan, as she has some severe credit problems.

I want to reduce my rate and refi for 15 years.

Is this possible without her 'selling' me the house?

What steps should I take? Who should I talk to?

Thanks!!!!

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First of all, pull your FICO mortgage scores to see where you stand. That'll give you some idea of the interest rate you might be offered. Then check with some local lenders to investigate fees and costs to refinance. Then decide if the refi makes sense financially (sometimes it doesn't, depending on the numbers). Once the financing is in place your wife will only have to sign a few documents to complete the transaction. She does not have to "sell" the house to you.