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Guest

Hello-my ex bought a house and put my name on the Mortgage. My name is not on the Note. I was told we had to do this so if something happened to him I would be able to take over the house. He stopped making payments and I recieved a summons that we are both being sued. How do I get myself removed from the Mortgage since he can not refi the house?
Thank you for all your help.

ashleyblanton · Posted: Wed Feb 25, 2009 4:02 pm Post subject:

If you are on the Mortgage, then you HAVE to be on the Note. I would consult an attorney to find out exactly what is going on.

Posted: Wed Feb 25, 2009 4:05 pm Post subject:

I live in Indiana-you do not have to be on the Note to be on the Mortgage.

ashleyblanton · Posted: Wed Feb 25, 2009 4:22 pm Post subject:

Do you mean you are on the mortgage and not on the Title? I have been in this industry a long time. You HAVE to be on the note if you are on the mortgage.

Guest

Well not in Indiana

jameshogg · Posted: Wed Feb 25, 2009 10:21 pm Post subject:

Hi newgal,

As far as I know, your ex will have to refinance the loan in order to remove your name from the mortgage. Your ex may speak to the lender about Novation which is also a way to transfer mortgage. However, lenders always prefer refinance over novation.

Thanks

Guest

House deeded to ex (in her name), my name still on mortgage and insurance. I'm paying consolidation loan on house, she's paying mortgage. How can I remove my name.

smithsussane · Posted: Fri Nov 06, 2009 10:36 pm Post subject:

Hi DocS!

Welcome to forums!

If you want to remove your name from the mortgage docs, then your ex will have to refinance the mortgage in her name.

Sussane

Guest

House deeded ex. My name is on mortgage, she will not refinance. How will this impact my credit in buying new home?

jameshogg · Posted: Tue Sep 07, 2010 11:33 pm Post subject:

Hi Guest,

It will be difficult for you to qualify for a mortgage. Your name on the mortgage will increase your debt to income ratio and it will reduce your chances to qualify for a mortgage.

Thanks

Posted: Mon Dec 20, 2010 11:53 am Post subject:

can my ex take me to court for his removal of his name from a mortgage. cant refinance the loan i owe too much. i make all the payment on time ever month so his credit dont get messedup

smithsussane · Posted: Mon Dec 20, 2010 9:17 pm Post subject:

Hi Guest!

Welcome to forums!

If the ex has received a judgment from the court that you will have to refinance the mortgage in your name, then he can take you to the court. If his name remains on the mortgage, he won't be able to get any other mortgage in his name. So, he can force you to refinance the mortgage in your name.

Feel free to ask if you've further queries.

Sussane

Guest

There is another way to take off a person's name on a mortgage. It can be done through the loan modification process through HAMP or in-house modification programs through lenders & servicers. I have seen this done in Florida and Georgia so I''m sure it can be done in other states. I have also seen a person added to a mortgage in the modification process so that the loan could be restructured. Additional income was needed for the homeowner to qualify for a modification and the lender allowed her to add her mother to the deed and loan so her income could be included. I hope this helps. I also agree with Ashley. The financing part is the Note/Mortgage & the Ownership part is the deed. You may want to get a copy of all the closing documents to make sure no one listed you as a co-borrower on the financing part of the house. Your intent may have been to just be on the deed. They can not sue you for foreclosure if you are not responsible for payment of the mortgage/note. In most states the mortgage/not and the deed are seperate documents. Georgia is an exception to that rule. In Georgia they are combined into one document. How long has he had this note. If you are responsible you may want to research your right to rescind under TILA or RESPA.

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Removal of name from mortgage