Just found out my EX did not refi after quitlcaim

Guest 0.10 Dollars($)

I applied for a mortgage today, only to discover that my EX of over 8 years did not refinance the mortgage, even though I signed a quit claim. The mortgage has not shown up on my credit reports before when I've done routine checks, but the mortgage company said it was there. I called the credit union the mortgage is with, and sure enough, I'm still on the mortgage and so am unable to qualify for a NEW mortgage because with TWO mortgages, my debt to income ratio is too high.

What can I do to get my name off this mortgage? The property and credit union are both in North Carolina.

Thanks.

helping_user · Posted: Tue Mar 18, 2008 9:23 pm Post subject:

Hi Crooks,

Signing a quit claim deed will only transfer the title of property but not the mortgage. Still you are liable for it.

Who is paying the payment for past 8 years on that mortgage?

Thanks

sara · Posted: Wed Mar 19, 2008 2:04 am Post subject: RE: ex-spouse did not refinance

Hi gcrooks,

Welcome to the forums.

It's strange that the credit report does not reflect the mortgage. I hope the mortgage you applied for now is on a different property. So, the best thing would be to sell the other property in agreement with your spouse. Talk to him/her and explain that should have refinanced and just because it's not done, you need to sell and pay off the mortgage. Otherwise the credit union may come after you because he/she isn't bothered to pay.

Take Care

jbarto65 · Joined: 04 Nov 2007 Posts: 626 -0.11 Dollars($)

Have you talked to your ex to find out why he/she has not refinanced the mortgage, sounds like after 8 years that this person had no intentions of doing what was promised. Do you have the promise in writing? I would contact them and tell them that if they don't refinance that you intend on selling your half or do you even own half anymore since you quit claimed it? I am sorry this is happening to you, hope it all gets straightened out soon.

Guest 0.10 Dollars($)

Thanks for all the replies. I have not spoken with my ex in about 8 years. About a year after the divorce and me moving to another state, I saw on my credit report where the property was in foreclosure, and when that disappeared, I assumed (apparently erroneously) that the property had been sold - it was up for sale when I moved - and so since that time I've thought nothing more of it.
I don't own half anymore - I signed a quit claim - I can only assume that either my ex or someone else she's lured into her web is making the payments on it, because the mortgage is current and signifiantly down from where it was 8 years ago. Even so, with my teacher's salary, even though I have excellent credit I won't qualify for a mortgage when my credit report shows all but $300 a month is going to pay for this house in NC. The mortgage broker I was working with here is going to have their office in NC send an offer to refinance at a low rate and see if she nibbles, but since the mortgage is already at a very low rate through a credit union, I'm not holding out much hope of that happening. If you're interested in how it all turns out, check back from time to time - once it's resolved, or clear that it will not be resolved, I'll post another follow up. Still open to any other ingenious suggestions.

Samantha

Ok so the mortgage is current and being paid for by either your ex-spouse or someone else. So, why don't you contact the lender and requst him to remove your name from the loan and add the person whose paying. This can be done through Novation. Just try it out once and see if it clicks.

Guest 0.10 Dollars($)

I have the same problem. My ex husband will not refinance even though I signed a quit claim deed and he paid me my portion og the equity and i am remarried to another man. We are trying to buy our first home together right now and I have a mortgage on my credit that my ex can but will not refi. I called a lawyer and the judge and because it was not in our divorce agreement that he had to refi. I can not compel him. he has great credit but does not want to lose his interest rate so he wont refi no matter what I say or do. I think that he is just doing it to prevent me from being happy because he is still angry over the divorce. Some people are just greedy and selfish and do things for themselves even if the decision negatively effects their own children.

Niicss · Posted: Tue Jul 22, 2008 4:35 am Post subject:

Hey Guest.

your ex-husband has paid off your share of home equity to you and you have quitclaimed. So he is not obliged to refinance. You should have asked him to refinance when you have quitclaimed the property to him. Now you can only request him to refinance the mortgage on his name.

jheard · Posted: Tue Jul 22, 2008 7:12 am Post subject:

People. Do not deliver the quitclaim deed until your name is off the mortgage.

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