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jbgrig · Joined: 17 Jun 2009 Posts: 2 1.83 Dollars($)

How is it possible to get a new mortgage when you have signed a quitclaims deed but your name still appears on an old mortgage (as in a divorce)?

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

I answere dyoru question partically in the other post

Yes you can get one more loan, you need to show enough income to make payment. Your best option would be to ask your ex to refinace the loan in his/her name

Good lucka and feel free to ask

jenkin7 · Posted: Wed Jun 17, 2009 11:11 pm Post subject:

Hi jbgrig,

Signing on the quitclaim deed will not affect your chances of qualifying for a new loan. However, as you have an existing loan in your name, lenders would want you to pay it off in order to qualify for the new loan. The other option would be to have the loan refinanced in your ex's name, thereby removing your name from it.

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

Hello jbgrig, you don't need to get your name removed from the other mortgage to qualify, but it would definitely be a good thing. If you can prove that you have not made any of the payments on the other mortgage and contribute nothing to that housing expense an underwriter can remove that expense from counting against you in your qualifying ratios. It might be difficult to get proof that all payments are coming from your ex's account but its worth a shot if thats your goal. QUalifying for two mortgages is very difficult since they are required to use the full payment against you not half. good luck!

haridas_badhe · Joined: 11 May 2009 Posts: 59 0.06 Dollars($)

Hi,
When you signed quitclaim deed then no worry about new loan , you can get it.and there is no problem when you have name on mortage.you can show valid document of quitclaim deed.
Or you can do by refinance...

Thanks
Hari

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Good luck jbgrig

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