February 13, 2020 at 8:02 pm #65574ChelseaL123Member
Hello, I’m in Texas (Community property state) meaning his name must go on the deed. We understand that Naca looks at the entire home’s financial situation. My spouse is completely supportive of me wanting to go through the NACA program and will give any documents or information they request, however, he doesn’t want to purchase a home. He doesn’t want a home loan as he feels he isn’t ready for that, not to mention our relationship has it “tribulations”. He is fully supportive of the idea that i want a home for me and my children. He has debts that may cause liens and other issues. He is willingly to do whatever to help me protect my home and ensure that it is seen as completely mine. I don’t fear that he would try to take possession or use it against me in any way. I’ve heard of post-nuptiual agreements and quit-claim deeds but I’ve seen little to no information about them in the forums or on the website. I can’t be the only one to purchase without a spouse.
Question: What steps can be done to ensure my home is protected and technically mine and mine alone? Are there any forms that can be signed? Will Naca just cast me away because I’m married and want to buy without him?February 13, 2020 at 8:22 pm #65575NelsontMember
You can qualify without him and get a loan with only your name on it that he is not responsible for. But with his name on the deed he is legally entitled to the house or half the sale monies should you divorce.
Naca will certainly not turn you away. Plenty of people do what you are trying to do all the time. Just remember his debt will be considered yours regardless but his income will only count if he wants to qualify to be on the loan as well so that will potentially decrease your affordability. He has no legal choice while married to you on being on the deed or not.
As far as being protected you would have to own the property prior to marriage.February 14, 2020 at 9:28 am #65577genixMember
My wife was on board on buying a house but her self employment made it difficult for us to prove. So, I got qualified with just my income. All I had to do was write a letter and explain to my MC. She will be on the deed but if you don’t want to put him on it you wouldn’t have to since only you will be on the bank application.February 14, 2020 at 10:08 am #65578NelsontMember
@Genix Texas is a community property state which means the state requires the spouse to be on the deed regardless of loan, ownership or counselling program. Basically if you are married you own half your partner’s possessions. Naca follows all local and state regulations which is why they don’t have an office in nor operate in every state.
“Community property or Community of Property is a marital property regime under which most property acquired by a spouse during a marriage is owned jointly by both spouses and is divided upon divorce, annulment, or the death of a spouse. Community property is premised on the theory that marriage creates an economic community between the spouses and that the marital property attaches to that interpersonal community, rather than to the spouses themselves.”
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