Question by sukulaati: Why does my mortgage company need proof of marriage for refinancing?
My husband and I are refinancing our mortgage through a different lender. I kept my maiden name so of course we have different last names. We have to give our new lender a copy of our marriage license for the refinancing paperwork. Although I don’t remember for sure, I don’t think we had to provide such proof last year when we got the original mortgage. Why does it matter whether we are married or not? How would it affect the process if we were simply a common-law couple?
Answer by dusty_titus
Married couples have a tax advantage over singles living together because they file jointly.
The problem is that you are still using your maiden name – banks have problems with uppity women. Best to pony up the Certificate.
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different companies have different rules and different ways of applying policy. It is quite common for a mortgage company to require sight of a marriage certificate. It possibly doesn’t matter, per se, that you are married but your new company may apply certain rules depending upon the type of partnership entered upon by their mortgagees. This may be a requirement of their insurers, it could be that they see a married couple as a safer bet or would lend a lower percentage of the asking price to a couple who have not ‘tied the knot’ – who knows!
Be grateful it is only a copy your lender requires, I had to send the original certificate to mine (although I did get it back after they had made their own copy).
First, about common law marriage: it is an old way to do things and many states don’t recognize this. You are either married, or you are two unrelated people who live together.
As far as your case, it may just be a matter of identity. They have a right to know who they are dealing with.
Yes every state does that. Last time we applied was in 1995 and we had to produce one and I use his name.