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virginia
Guest
0.10 Dollars($)
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 Posted: Wed Dec 12, 2007 8:51 pm Post subject: remove husband from mortgage only |
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| we need to take out equity from the property my husband has a low score that no bank could be able to help us so the loan officer mention to be able to get the extra equity to payoff my bills he will need to quit claim the mortgage because my score were alot higher they could only be able to payoff my debts just need to know will he still be on title |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1515
Location: MASSACHUSETTS
132.59 Dollars($)
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| Posted: Wed Dec 12, 2007 10:43 pm Post subject: RE: take out equity with low score |
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Hi Virginia,
Welcome to the forum.
In no way, can you quitclaim a mortgage. There is some kind of misunderstanding here. If at all your husband is not anle to get a loan, you can cosign on it and help him qualify for it.
On being a cosigner, the lender will consider your income and credit details before approaching the loan to your husband. And, in case, he cannot make all payments or he defaults, it will be your responsibility as a cosigner to pay off the equity loan.
Please feel free to come up with further queries.
God bless you
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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Maria
Guest
0.10 Dollars($)
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| Posted: Fri Dec 14, 2007 12:49 pm Post subject: Va loan |
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| When my husband got divorced to ex-wife, the divorce decree read that he was not responsible for the house they purchased together any longer. However, when he asked for his VA loan (that he used to get the house) back, he recieved a letter of denial stating the house had to be refinanced in her name or the debt could be transferred to another person whom has a VA loan. We spoke to a lawyer and had the decree reviewed, but apparantly there wasn't any specifications as to the VA loan, just that she would be responsible for the debt, but this doesn't suffice for the VA office, and the lawyer suggested a quit claim deed. Will this be enough to show that my husband is no longer financially responsible for this house or are there other options? |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Fri Dec 14, 2007 1:05 pm Post subject: |
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Hi Maria,
Welcome to this forum.
Your husband can quitclaim but before that before that check thoroughly that your husband's Ex-wife has refinanced and removed your husband's name from the mortgage. If she has already removed your husband's name from the mortgage, there is no problem to quitclaim.
Warranty deed is generally used when you are selling the house. So quitclaim deed is good enough to get out of it.
Hope it is clear to you. If you have further questions, feel free to ask.
Thanks,
Larry |
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Maria
Guest
0.10 Dollars($)
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| Posted: Thu Dec 20, 2007 4:35 pm Post subject: VA loan (continued) |
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| We checked, and the house still bears both their names. The ex refuses to refinance unless we give her $10,000 for closing costs. If it's just a transfer from one VA lender to another, are there such costs? If he can't make her refinance, can he reap any benefits from this? We've noticed that his name is still on the tax forms for the house also? Can he claim the house as well, since his name is still on it? We don't know much about this and he wasn't married long after they bought the house, so we can use all the advice we can get, thanx! |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Thu Dec 20, 2007 5:05 pm Post subject: |
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Hi Maria,
According to the divorce decree "he was not responsible for the house they purchased together any longer". That means your husband is not responsible for the house. So forget about claiming the house 
Again, as per the divorce decree, your husband's ex-wife is responsible for the due debt as you have said above- "she would be responsible for the debt". So she has to refinance or you can transfer the VA loan to her. Consult with you attorney. He will help you in this regard.
There is no way she can ignore her responsibility regarding the due debt as she is enjoying the property and it has been dictated through the Divorce Decree.
Thanks,
Larry |
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Maria
Guest
0.10 Dollars($)
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| Posted: Wed Jan 23, 2008 5:37 pm Post subject: more info |
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So we consulted some free legal advice (via military) and were suggested to run a credit report to see if my husband was indeed financially responsible still. He was, and to top it off, the report shows a missed payment! The only thing we got out of that was a letter to his ex (whom is also military) notifying her that she is causing financial hardship on my husband and that it would be in her best interest to refinance. Our lawyer says to sweetalk the ex into refinancing, but unless we'rewaving money at her, she won't give us the time of day. So, that brings me to asking where do I get this quit claim deed and are there any loopholes to it? Do we need anything signed by the ex?
thank you for your time and advice |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Wed Jan 23, 2008 6:43 pm Post subject: |
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Hi Maria,
Welcome back.
As you husband has signed a quitclaim deed to her, he has no interest on the property but his name is still there on the mortgage. So he still remains responsible for the mortgage payments. And as you husband's ex is defaulting on the payments it also hurts your husband's credit report.
I think instead of finding loopholes in the quitclaim deed you should ask your husband's ex to refinance. She can't claim money from you, though if you can, try to help her out to refinance as it will help both of you. If you assist her by giving her the money, she can be able to refinance and you will be out of that headache forever as she will have the mortgage on her own name and..
You can even take legal actions against her if she claims the money because according to the divorce decree it is her duty to pay the mortgage. But I think if is better if you can negotiate the matter mutually.
Hopes it will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry |
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jackson
Guest
0.10 Dollars($)
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| Posted: Sun Jan 27, 2008 11:37 am Post subject: **Transfer of Property** |
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| I am 50 years old and have been on Medicaid for 4 years. My house will be paid off in 1 year and I read the Medicaid can attached to my house affter I am 55 and died. Should I tranfer my house to my daughters before this age? I reside in St. Louis Missouri and not sure if this applies to this State. What can I do to insure my daughter will inherit my house after my death clear without any problem and secure them from any liens? |
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Jessica
Community Mentor
Joined: 08 Jun 2004
Posts: 694
Location: OHIO
124.15 Dollars($)
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| Posted: Mon Jan 28, 2008 4:30 am Post subject: RE: medicaid and property transfer |
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Hi Jackson,
As per the Medicaid Estate Recovery Rules in the state of Missouri, the state cannot interfere with the ownership of a real property until the Medicaid applicant or his spouse passes away.
However, a lien may be placed on the property as security for the payment of the debt while the applicant is still alive. The lien does not change ownership of property but the debt should be satisfied before the property is transferred or sold off or offered on rent. So, it is better that you pay off the debt and then transfer property.
Regards,
Jessica
_________________
Home buying made simple with Community booklet |
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sheila
Guest
0.10 Dollars($)
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| Posted: Sun Feb 10, 2008 1:16 pm Post subject: deeds |
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| what is the best way to get my exboyfriends name off my house without refinacing. He owns his own house. |
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sheila
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0.10 Dollars($)
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| Posted: Sun Feb 10, 2008 1:21 pm Post subject: deeds |
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| Ilive in Cincinnati ohio. the above question is mines, removing my ex boyfriend off my mortgage |
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sara
Joined: 05 Jul 2006
Posts: 1168
Location: New Brunswick, New Jersey
216.67 Dollars($)
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| Posted: Sun Feb 10, 2008 10:35 pm Post subject: RE: take name off house without refinancing |
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Hi Sheila,
Welcome to the forums.
The only way other than refinancing is a novation. Please check a previous discussion on How spouse can take name off mortgage .
Take Care |
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martina
Guest
0.10 Dollars($)
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| Posted: Mon Feb 18, 2008 8:20 am Post subject: get out my title! |
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I,m a 87 year old,when my husband died,he let me some money.I have a niece and her husband and daughter they talk me to buy a duplex house,7 years ago,and I did,I gave $40,000 down payment.Later I found out that all 3 of then, put their names on my property.How I get then out of the title of my property.
Thanks |
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jameshogg
Joined: 20 Dec 2005
Posts: 1038
Location: nevada
131.64 Dollars($)
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| Posted: Mon Feb 18, 2008 11:07 pm Post subject: RE: out of property title? |
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Hi Martina,
Welcome to forums.
Are you sure they made you sign a deed which could have added you to the title to the new property? If that is not done then I should say, they have simply taken money from you without bothering to add you on title. I hope you don't have your name on the loan.
Feel free to ask if you have further queries.
Thanks |
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