Ask Terry Questions Refinance our home

Refinance our home

By Terry Savage on August 25, 2018 | Housing / Real Estate

My husband thought you were smartest person in the world. He died 1/13/1916. We bought our home in 1974 but refinanced a few times to help our 5 kids &10 grandkids: tuitions, braced, illnesses, down payments on homes, etc. My name is on the deed as joint owner, but Wells Fargo did not put my name on the loan in 2010. We mailed evidence to them, the agent who took care of us told them it was joint tenancy, but they want me to pay to put the loan in my name. I had sent a copy of the death certificate.
Info on HARP made me wonder if I should apply, but my family says it’s a scam….your thoughts?

Terry Says

Whoa — that is a lot of separate questions. First, the lesson is that it is important to pay attention to documentation whenever you deal with financial issues. Now, yours is an interesting case. Since your name is not on the loan, they theoretically cannot collect from you! Of course, if you stop paying, they could foreclose on the home! How much do they want you to “pay” to change the loan? And, assuming you are no longer earning enough money to qualify for a mortgage, how do they plan to offer you a NEW loan, at a better rate?

I think you need an attorney to make this call. But the situation is so interesting that if you’ll gather names & numbers of people who you are talking to at Wells, and send it to me after Labor Day, I might get on a conference call with you!



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