Colorado Marital State / Sole owner property refinance needs spouse signature on deed.
Asked in Denver, CO - about 1 year
I recently got remarried. I am in the process of refinancing my property that was purchased before this marriage and I am the sole owner. I also have a prenuptial agreement that indicates that this is and will remain my sole property. The loan was approved and we're ready to close. However, my husband has to sign as a non-obligator and will also sign the deed of trust. I have been told that I cannot refinance without his signatures. I've also been told that the loan company will not hold him liable in any way if I default on the loan. Is this correct? My husband will not sign as he feels that this is too risky for him and that legally the mortgage co can pursue him. Is there anyway to get around this? We live in the state of Colorado. Thank You
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Greenwood Village General Practice Lawyer
Greenwood Village Real Estate Attorney
Castle Rock Appeals Lawyer
Aspen Real Estate Attorney
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Your husband is not signing the Note. The Note is the only document that makes him personally liable on the loan. So long as he does not sign the Note then he cannot be held personally liable on the loan.
The bank needs your husband's waiver of homestead rights or they absolutely will not refinance your loan. There is no way around this requirement. If the refinance is of benefit to you, you need to convince your husband to consult an attorney and satisfy himself that he can sign the deed of trust.
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