Re: Ladies- make sure you are financially independent....

Yabbobay - Why is it important to have your name on the mortage? My husband added my name to the deed of the house and my name is not on the mortgage. Is there a difference?

Re: Ladies- make sure you are financially independent....

Having your name on the deed is the important part. The deed is what determines the ownership of a home, not the mortgage. DH already owned his home when we got married. We had to have the deed changed in order to reflect a joint ownership in the property. DH added my name to the mortgage which then made me responsible for paying, so you can bet that after that my name was added to the deed!!!

Re: Ladies- make sure you are financially independent....

yes thank you Wendy...thats what I meant...

Re: Ladies- make sure you are financially independent....

You're welcome Erica.I knew that was what you meant! Until that happened I always thought it was the mortgage too. Only found it when we refinanced the mortgage and I was included that it was the deed that made the difference. Hey, if I'm paying for it, it's mine too!!

Re: Ladies- make sure you are financially independent....

Thanks Wendy and Erica!!

Re: Ladies- make sure you are financially independent....

I also agree with keeping some finances separate. I have all of my credit cards still in my name with my good history and he has his own. I also have a 401k with my current employer, an IRA from a past employer, ROTH IRA, & mutual fund all in my name. I have several savings accounts in my name and we have several joint accounts as well. After buying a house, I intend to keep my credit cards, retirement and one savings account in my name.

Re: Ladies- make sure you are financially independent....

We have everything together except what we came in to the relationship with. I have my own checking account and savings so does he.

Re: Ladies- make sure you are financially independent....

I agree with susans - when we get married it will all be together.

I could not get into a marrige with "what ifs" and "well if we get divorced"

That is just me - but I couldn't get into a relationship with escape plans if it doesn't work out.

I will always have my education to fall back on as well as family but I don't think about it like that.

Now it makes sense to keep your credit up and keep it in good standing because you don't know when you as a COUPLE will need it - but I never think of it as I as an INDIVIDUAL. That's just me but I totally understand what it's like to think about the "what ifs" especially when hearing about the horrors of getting divorced

Re: Ladies- make sure you are financially independent....

I'm the same as Shamma -

"We have everything together except what we came in to the relationship with. I have my own checking account and savings so does he". I also have my own credit cards. So does he. I pay mine, he pays his.

I know the situation will take some adjusting to when I am a SAHM. I have banked all my money thus far from working and have a healthy 401K going. I will use that money to draw upon in the future when I want my own spending cash so I don't feel as though I have to rely on him. However, he will be my total support financially when I am a SAHM. And I applaud susans for being confortbale in her situation. I think it works.

However, my name is not on the mortgage to the house. I do not pay any part of it either. And that is fine by me. After we got married, we put my name on the deed to the house though.