divorce decree and quit claim, how do I get the house off my credit other than refinance?

kristinmyer · Joined: 01 Apr 2009 Posts: 1 1.44 Dollars($)

divorce decree and quit claim, how do I get the house off my credit other than refinance?...In 2006 my husband and I were divorced and according to the divorce decree he took sole ownership of our house in North Carolina and I signed a quitclaim deed for the property. I am now trying to buy a home and unfortunately I did not know that the property would still remain on my credit. We did not end on good terms so there little likelihood that he will be cooperative about a refinance. Can I do anything to force a refinance or persuade him that it is in his best interest to refinance? The divorce decree indicates that I am not financially responsible for the property, but this doesn't seem to help. What can I do?

jameshogg · Posted: Wed Apr 01, 2009 7:38 pm Post subject:

Hi kristinmyer,

The best option to remove your name from the mortgage is to ask your ex-husband to refinance the mortgage. If he cannot refinance, he should speak to the lender about novation. This is also a way to transfer the mortgage in his name. Generally lenders prefer refinance over novation but if he regularly paying the mortgage dues, then the lender may accept his request for novation.

Thanks

Guest

Thank you I am glad to hear there is another way around the refinance issue. He is in the military, makes a good living, has great credit and makes all the payments on time. However, he would never refinance at my request unless there was something good in it for him. Is it bad for him in anyway to have me on the mortgage? Other than a lower rate woudl he benefit from a refinance (getting me off the mortgage) in anyway?

savior70 · Posted: Thu Apr 02, 2009 6:43 am Post subject:

Hi

There is nothing bad for him if he removes your name from the mortgage and puts his on it through a novation agreement. You will have to convince him about that. However, does the decree mention that he has to refinance the property after you had quitclaimed it to him? In that case, if he refuses to refinance or do a novation to remove you from the mortgage, you can drag him to court once again.

Posted: Wed Jun 24, 2009 3:25 pm Post subject:

In the divorce decree it stated I would make a good faith effort at refinancing. I am receiving alimony only and do not have a job. Am I legally bound to refinance or can I simply continuing making payments until I am ready to sell in two years. I received the house with a huge mortgage and there is no equity as he took it all before hand. I would like to avoid the refinacing costs as it is money wasted at this point

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