If 3 names are on title and only 2 names on morgage loan, should I change to all 3 on morgage loan?

thanks to all for the replys so far. If the mother in law has rights to 1/3 of the house, then she should pay 1/3 of the loan ?

If 3 names are on title and only 2 names on morgage loan, should I change to all 3 on morgage loan?

You have to refinance to add her name to the loan. Her name can not simply be added, or removed from a loan contract. A whole new contract needs to be drawn up.

And no, there is no law that requires everyone on the deed to be on the mortgage.

If 3 names are on title and only 2 names on morgage loan, should I change to all 3 on morgage loan?

I guess its just personal choice. You do have to refi in order to get the 3rd person on the loan. Why is she on title if shes not on the loan? I dont see how that would benefit you and your wife. Sometimes spouses will have one on the loan and the other not, due to credit... but they both remain on the house. I feel like there is something you are not telling us.

What I would do is have your mother in law sign a quit claim deed taking her off of the title. Seems like the cheap easy way to solve the problem. Or if she lives there, put her on some rental agreements. Either way, I wouldnt want anyone on title to my home other than my wife. Period.

If 3 names are on title and only 2 names on morgage loan, should I change to all 3 on morgage loan?

NO..Usually I would advise that you do not change the mortgage. Now, if you need to refinance to get a lower interest rate.. Then it will require a complete remortgage..with all 3 names on it.

As to whether your mother in law should pay 1/3 of the loan.. does she live there? Why was her name put on the house? what is your agreement with her? all of that needs to be answered prior to a definite answer

If 3 names are on title and only 2 names on morgage loan, should I change to all 3 on morgage loan?

It is not nesscessary, but I see your point....make her pay if she wants to stay.

If 3 names are on title and only 2 names on morgage loan, should I change to all 3 on morgage loan?

You would need to refinance, however, you can%26#039;t force her to sign a new mortgage. Legally, she%26#039;s 1/3 owner of the property....with or without a mortgage. How did she end up on the title in the first place?????