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Can a spouse transfer without a refinance?

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Guest	Posted: Tue Nov 03, 2009 8:45 pm    Post subject: Can a spouse transfer without a refinance? Like 0 Dislike 0 In California, both my name and husband's is on the mortgage. We are going through a divorce and I am going to keep the house. However, with the market being what it is, we now owe about what the house is worth; so no equity. I can afford the mortgage payment as is on my own, but if refinanced not sure I would qualify for a new mortgage by myself plus would not have the 20% to put down and don't want to pay extra. Is there a way to transfer ownership without refinance? Spouse is in agreement.
Guest1971 Guest	Posted: Tue Nov 03, 2009 9:57 pm    Post subject: Like 0 Dislike 0 The house will be part of the divorce I'm sure...but in any case, you would have to qualify for a refinance and deed him off.
smithsussane Joined: 18 Sep 2008 Posts: 10038 Location: Alaska 920.62 Dollars($)	Posted: Wed Nov 04, 2009 12:36 am    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! You can apply for a novation with the lender. It is also a way to transfer the mortgage from one person to another. However, most lenders do not agree to a novation. To know more about novation, check out the given page: http://www.mortgagefit.com/know-how/about5787.html Feel free to ask if you've further queries. Sussane

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