Fiance wants to be on title to the house only not on the loan?

Earnest
We are going to get married soon. I am refinancing and want to put him on the refinance. He says he wants to be on title only, not on the loan. Is this fair? Is this risky? Why or why not? I need advice on how to make him understand the title only option does not feel like togetherness.

Babette
Personally this guy sounds like he is using you. You might want to rethink putting his name on the title, just keep this as your house.What he is telling you is that he wants to own 50% of your house. BUT, he wants no responsibility for it.If you do this, never marry, and break up, he still owns 50% of your house, and he can demand that you PAY HIM his 50% share, all the while you are the only one responsible to pay the mortgage bill.If you do not put him on title, even if you break up after you are married that house is still yours. 100%While I think you would be wise to keep it, title, mortgage, everything, in your name, if you must have "togetherness" you MUST be 100% and he needs to get his name on the debt, not just the asset.

Alejandrina
Tell him to forget it. The mortgage (or deed of trust, depending on the state where you live) says who owes the money.The warranty deed says who owns the house.If he's only on the warranty deed he's not responsible for the mortgage, but he's entitled to half the house.This is your house, and if this is his selfish attitude, maybe you should reconsider marrying someone who is concerned with his own benefits but not in taking responsibility. If you do marry him, change the warranty deed to read "sole and separate property". Ask a lawyer about the proper wording in your state so that he has no rights in the house. If you don't state it that way, he'll still have marital rights in the house and you'd need his cooperation to refinance or sell. Your house -- keep it that way.

Renee
You are right he wants all the benefits with none of the debt. If you don't pay your mortgage he won't lose anything even if you let the house get foreclosed. If you pay the mortgage or you get appreciation he would expect half the profits.If you are buying a house after the marriage put him on the mortgage and home but if you buy before the marriage keep it in your name. Not all engagements end in marriage even when the marriage is only hours away. Not all marriages last, he is protecting himself but not you.

Hassan
That's not right. He's either on both, or he's not on either. Why? Because if you guys break up for any reason, he can just stop helping pay on the house, but still have ownership in it. Then you will get in trouble but he won't, and it gives him the option to finance a house that he already owns in his name, since your credit would be done from the loan default.This is just shady on his part. It's like...how can you claim ownership in something that you're not on the loan for? That's like adding your name onto a birthday gift that someone else bought even though you didn't contribute any money. Not cool

Liz
If you break up, he will claim at least half of your property, but if something goes wrong with the payments on the mortgage, he is not responsible for making or even helping to make the payments.He wants the gains but does not want any of the responsibility or liability. You should not allow this, because it is far too risky, and totally unfair.

Blake
Why not? What if something bad happens and you can no longer afford it. At least his credit will not be ruined.We deal with short sales and the people that come out the best are the ones that position themselves that way.If you are not comfortable than do not even put him on the title.

Laurena
In my opinion you don't need him on either one. Leave the house in your name so you have something. Otherwise you will end up paying for the house and if something happens, possibly losing the house.

Christinia
Guy sounds like a scumbag. You should be rethinking marrying him at all. At a minimum this should be a wake up call to make him sign a pre-nup.

Alfreda
My husband and I are in the market for a house. I have poor credit from a few years past and I am self employed, so I am a terrible liability on a loan. We are using only his name on the loan, but considering putting me on the title. I will pay on the loan just like him, and me being on the title means we both own the home, so it makes it feel more like "ours" rather than "his". This works for us, but maybe not for you?If he can be on the loan (good enough credit, good enough income) then inform him that by putting him on the loan will save you money. You will get a lower interest rate for starters, since you will have more good credit history, more income (so your income to debt ratio is lower), and two people liable for the loan, so the bank is more inclined to give you a break because then they will have two people instead of one to go after if you default.There is a certain amount more risk without you both on the loan. For example, can you afford to pay the loan yourself if something happens and he disappears (not saying it will, but you have to consider everything)? And you will get a higher interest rate because of what I explained above. Also, some lenders may decline you (although it's not likely) without the extra income (since the economy fell, loans are harder and more expensive to get) if your debt to income ratio is too high. Your mortgage needs to take up 33% or less of your income to get a good deal, and many places will decline you if your mortgage is more than 33%, so his income would help a lot (again, for the reasons I pointed out earlier).Just talk to him and find out why he doesn't want to be on the loan. Is it a commitment issue? Maybe he's afraid of having debt looming over his head for years to come? Sometimes this happens, even in guys who have no problem being with one person the rest of their lives (congrats on your engagement, BTW). Just sit down and talk, and be honest - if this bothers you so much, then let him know that and talk about it like adults, and hopefully you will find something that works for both of you.Personally, I don't think it's fair at all. I don't see why he wouldn't want to be on the loan with you, but he has some reason. Just talk to him about it and share your feelings, and then get his perspective on things, and it will work out for the best.