Will i lose my home if i am not on the home loan?

Asked 8 months ago - San Carlos, CA

my husband and i are buying a home in CA as our primary residence. he is the only one on the loan. we will be transferring his deed from "married man as his sole and separate property" to "community property with right of survivorship" soon after we close escrow.

my concern is: if he was to pass away, God forbid, and since i am a stay at home mom, would i have to apply for the home loan in order to keep the home since the home loan is only in his name?
confused about all of this. any info is greatly appreciated!

Attorney answers (3)

  1. Chi Leung Ip

    Contributor Level 13

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    Answered . It does not matter that your name is not on the loan. This only means that you are not personally responsible to make the payment. Of course, as the prior counsel's advice, that will be no issue as long as the loan is current at all time. Edward C. Ip www.lawyer4property.com

    No attorney / client relationship established. The answr is for discussion and general information only. The... more
  2. Cheryl Rivera Smith

    Contributor Level 20

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    Answered . As long as you continue to make the payments on the loan after his death, if he is the first to die, you will not lose your home. Being on the loan documents is of no benefit to you.

    Actively practicing law in Texas. Inactive licenses in Arizona and Georgia. All answers are general in nature... more
  3. Stephen Ross Cohen

    Contributor Level 20

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    Answered . I agree with Cheryl. Unless a divorce occurs.

    My name is Stephen R. Cohen and have practiced since 1974. I practice in Los Angeles and Orange County, CA.... more

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