brrrr refinance question

[Nathan Letourneau]

I am completing a single family home brrrr in Wisconsin (home #1). I also own another investment property (home#2) with someone 50/50. Both our names are on title of home #2 but the loan is in the partners name. I'm in the process of doing a cash out refi on this soon to be finished brrrr (home1). The lender is asking for the mortgage statement for home 2 even though I'm not on it...is this normal?  My partner likes his privacy and would rather not give it out.  Advice?

thanks

[Jeff Copeland]

Originally posted by @Nathan Letourneau:

I am completing a single family home brrrr in Wisconsin (home #1). I also own another investment property (home#2) with someone 50/50. Both our names are on title of home #2 but the loan is in the partners name. I'm in the process of doing a cash out refi on this soon to be finished brrrr (home1). The lender is asking for the mortgage statement for home 2 even though I'm not on it...is this normal?  My partner likes his privacy and would rather not give it out.  Advice?

thanks

Any lender is going to want to understand your net worth (assets, minus liabilities). You can't claim the asset (your 50% ownership stake in the property) on your schedule of real estate without also acknowledging the liability (a mortgage for which you pledged the property as collateral). The mortgage is a matter of public record. Why try to hide it?