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 jmcpa
Joined: 14 Sep 2009
Posts: 1
1.28 Dollars($)
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 Posted: Mon Sep 14, 2009 10:56 am Post subject: How get off of the loan on the house husband is getting in t |
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| giving husband the house in our Texas divorce. It looks pretty simple to deed the house over to him. How do I get my name off of the loan? The loan is with an individual who does not know how to do this step. |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1737
36.13 Dollars($)
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| Posted: Mon Sep 14, 2009 10:59 am Post subject: |
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For yoru to get out of the loan, you need to ask your huaband to refiance the loan in his name alone
That will remove you from the current loan
If it is a private lender you need to aks them to write a new loan agreemtn with yoru husbands name on it only |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Mon Sep 14, 2009 7:53 pm Post subject: |
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Hi jmcpa,
As your husband is getting the property in divorce, you can sign a quitclaim deed and transfer it to him. As far as the loan is concerned, you can either ask your husband to refinance the loan in his name or go for a novation. Novation is also a method of transferring the loan from one person to another. But again, you should note that lenders prefer refinance compared to novation.
Thanks |
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