Real Estate: Texas/Community Property, Mortgage, Housing?
Hi! I reside in the state of Texas and I am married. However, although I am married, we have been separated for well over 15 years, I do not know his whereabouts and we have no relationship or communication whatsoever.
So, I want to purchase a home for my granddaughters, pay the mortgage myself, but put the house in their names. My questions are:
- Will a mortgage company allow me to go forward in this manner even though Texas is a community property state and I don't plan to have the house in my name?
- Being that I am still married, would they want my husband present at closing?
- Would they want him on the Deed?
I do not practice family law but I would urge you to make two telephone calls:
1. Divorce attorney and ask about divorcing an individual that has abandoned the marriage and you have no further contact with...it will very likely be inexpensive and quick. That would solve the base question related to the mortgage.
2. Each lender will view this issue differently and I believe that you will be able to obtain a mortgage as your sole and separate property. You can prove that only your income has accrued and will be used to finance the home. You will be on the title to the home and you will have the opportunity to put your grandchildren on the property as owners with right of survivorship.
I would highly encourage you to follow through with the divorce and render question 2 as mute.