 rainy1963
Joined: 18 Oct 2008
Posts: 2
1.49 Dollars($)
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Posted: Sat Oct 18, 2008 12:06 pm Post subject: Best way to get home loan into my name
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3 years ago my ex and I divorced. At that time he quit claimed the home to me stateing that the home and all interest, equities, etc., were soley awarded to me. Seeing that I was a stay at home mom, I could not afford to have the home refinanced in my name. Even now, I work 3 jobs and feel that I still can not qualify for a new loan or refinance much less, I have 0 money for a down payment. I have made payments on the home for 3 years, never late. The bill comes to my home with both my name and the ex's name. I am not on the origianl loan at all. I have an excellent debt to income ratio and excellent credit, if this matters. However, I feel I am building his credit with all my hard work. I would love to have my name on the mortgage and his removed. Finally be the offical "home owner!" How can this affordably be done by me without having to refinance or come up with a down payment? Can the name on the loan be transferred or can the loan be assumed without changing anything, ie., payment amount, insurance, etc.? FYI, My ex and I are good friends and I would have no problem with him signing anything to help me get this out of his name and into mine.
Thank you for any helpful advice,
Wannabe Official Home Owner- divorced mom,
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
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