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How to remove name from mortgage after divorce

My wife and I got divorced over a year ago. I signed a quit claim deed but never had her refinance. she has been paying on her own for 12 months. I would now like to be removed from the mortgage. My wife has no problems with removing me, if the lender allows my name to be removed from mortgage (unlikely)
1. Will the lender remove me?
2. Can i force her do refinance? (In our divorce agreement, which was drawn up my my ex (lawyer) I don't think the mortgage was mentioned at all.
Thanks,
christian

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a condo before marriage for 7 yrs. When i married I opened up a coffee shop and took out a [url=http://www.mortgagefit.com/second-mortgage.html]second mortgage[/url]. my husband had to sign a open end deed of trust for the second mortgage in order to get money for the coffee shop. What happens in case of divorce? Is he entitled to my condo? He is not on the first/orginal mortgage.

Like | Dislike | Share | Posted: Sun, 09/20/2009 - 15:54 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

It is not mandatory for you to renew the note. You should ask your ex to refinance the loan in order to remove you from the loan. If your ex does not do so, it will be considered as going against the court which will be punishable as per law. If your ex does not follow the court's order, then you may take legal actions against him.

Like | Dislike | Share | Posted: Thu, 10/06/2011 - 22:21

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been divorced for 3 years. The family home was quick claimed in my name and the first mortgage is in my name. My ex put a [url=http://www.mortgagefit.com/second-mortgage.html]second mortgage[/url] on my home 6 years ago to secure money for a business obligation, a lawsuit he lost. The note renews every 3 years and it is currently up for renewal. In our divorce settlement he was to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] this loan to the best of his ability asap. He's made no attempt to refinance and now it is renewing. He is trying to renew the loan as it's been in the past, jointly. He has been paying this note solely for 6 years. His assets far out way this note, he has property in another state and also received an inheritance that would more than cover the second mortgage amount. Am I required to renew this note? His bank is pressuring me and if I need to re-hire my attorney who pays his fees since he is not cooperating?

Like | Dislike | Share | Posted: Thu, 10/06/2011 - 13:31 | Post subject:

sunnyca2009's picture
sunnyca2009 | Joined: August 4, 2009 07:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

The second mortgage is more a equity loan.

Even though your husband singed it he does nto ahve any ownership on the condo, but he is still laible to pay the loan

Like | Dislike | Share | Posted: Sun, 09/20/2009 - 18:16

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi cynthia,

Your boyfriend's ex will have to sign a quitclaim deed and transfer the property to his name. This will help remove her name from the property deed and your boyfriend will become the sole owner of the property.

Thanks

Like | Dislike | Share | Posted: Tue, 04/23/2013 - 22:27

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

How should one approach this issue? I have a friend whose wife is in agreeance to be removed from his deed/mortgage, but need to know how to do so legally. Any clue?

Like | Dislike | Share | Posted: Wed, 04/14/2010 - 06:19 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

in my divorce agreement I agreed to give her the house. I didn't sign any quit claim deed or remove my name from the mortgage. I understand that the only way to remove my name would be for my ex wife to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] or sell the house. She insist that she can't refinance the house and selling is not an option. I stressed to her that my name needs to be removed and these are the only options. Can I take her to court and what are my rights if I wanted to get the house back since she does not want to sell or refinance. Do I have rights to the house

Like | Dislike | Share | Posted: Wed, 01/27/2010 - 20:13 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If an ex has signed the [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url], they can't take their names off the loan. The best avoidance to this issue is to force the ex spouse to refinance the home in his/her name before the divorce ends. If they don't qualify for refinancing, then a court order to make them refinance is useless. As long as the mortgage payments are met, it doesn't hurt for the ex-spouse's name to remain on the loan. It's an issue of trusting the ex's intentions, but if the mortgage payments are not met, it can ruin both of their credit.

Like | Dislike | Share | Posted: Thu, 10/18/2012 - 20:30

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

one can do these things without the assistance of legal counsel, but i think that's foolish. why not suggest to your friend that he get an attorney to work out the details?

Like | Dislike | Share | Posted: Wed, 04/14/2010 - 11:17

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

To Guest,

"in my divorce agreement I agreed to give her the house. I didn't sign any quit claim deed or remove my name from the mortgage."

Since you have signed over the ownership of the house to her, it seems you do not have any rights to the property. But you also say that you didn't sign any quitclaim deed to transfer the house to her, right? I think you should check the property title. If your name is on the title, you can still have ownership rights to the property.

Did the divorce agreement state that she had to refinance the loan in her name within a specific period of time? If it did, you can take her to court and make her refinance. Otherwise, you cannot force her to refinance the loan.

Like | Dislike | Share | Posted: Thu, 01/28/2010 - 04:07

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Please help. He kept the house and took full responsibility for it in the divorce papers. Judge ok'd this and signed off on the divorce. Problem is, he still hasn't refinanced or done anything to remove my name from the mortgage. Somebody please help me and tell me what to do.
Thanks.

Like | Dislike | Share | Posted: Tue, 05/11/2010 - 09:13 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

The only papers I signed was the divorce agreement not the ownership. So i'm assuming my name is still on the title of the property. The divorce agreement did not say she had to refinance the loan it just stated that she will get the property. I really want my name off the property/mortgage but that doesn't seem like it will happen according to her. After many attempts I want to know what other options I can go about to either get the house back and sell it myself or whatever it is I need to do because she does not seem cooperative.

Like | Dislike | Share | Posted: Thu, 01/28/2010 - 08:22

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Sit down with your lawyer and discuss this, and head back to court to try to rectify the situation.

Like | Dislike | Share | Posted: Tue, 05/11/2010 - 13:04

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

im divorced i signed a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit deed[/url], my ex died 3 months ago. the loan is still in my name on the house. his 3 months behind on the mortage. the bank is going to start foreclosure if the loan isnt brought up to date. my 7 and 9 yr olds inherit 50/50 after expenses are paid. there is no money in the estate to pay payments. he agreed to hold me harmless. can i take over the house payments without refinancing? the exuture is going to let foreclosure begin.

Like | Dislike | Share | Posted: Thu, 11/26/2009 - 16:47 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I are getting divorced and I am in the process of refinancing the mortgage and he will be signing a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url]. At closing, is he responsible for paying transfer taxes on 1/2 of what's left on the mortgage + the money I'm giving him to buy him out? Not talking about state and local mortgage taxes.

Like | Dislike | Share | Posted: Fri, 07/15/2011 - 19:22 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome lucy,

Your query has been replied to in the given page:
http://www.mortgagefit.com/know-how/about52350.html#215316

Take a look at it. I hope it will help you.

Like | Dislike | Share | Posted: Fri, 07/15/2011 - 21:53

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My ex-husband took the house in the divorce and was ordered to refi in his name only within 1 yr. 3 yrs later he has yet refied and wants me to sign over the deed. I tell him he needs to refi. I will not sign the deed because I am still liable financially. Am i correct? any suggestions would be appreciated.

Like | Dislike | Share | Posted: Tue, 12/04/2012 - 18:43 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am divorced will be two years in july, I qucik deeded the house to him according to our divorce decree he has 2 years to get my name off the mortage, and he has yet to do so, what can I do... alo another question he has come into some money and my question is can he borrow against his pension plan, and where does that leave me when he retires in our divorce decree it states I am entitled to a portion of his pension after he retires...

Like | Dislike | Share | Posted: Sat, 01/26/2013 - 10:14 | Post subject:

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi fullofcrap,

If you did not sign over the ownership to her during the divorce, you still seem to have ownership rights to the property. However, if the divorce papers state that she will get the property, I’m not sure how you can still have ownership interest in the property. But in case, your name is on the property title, you can file a partition lawsuit and force a sale of the home. However, I’d suggest you to consult an attorney in this regard as he would be the best person to tell you if a partition lawsuit will work in your situation.

Hi Vulcan,

In such a situation, most lenders would want you to refinance the loan in your name. Do you qualify for a refinance? If you do, then that would be the most effective way of removing your ex from the loan. If the loan is assumable, you can also assume the loan while taking her name off the mortgage. You can also check out if your lender allows a novation. Given the fact that you have been making the payments on your own for a year, the lender might not have a problem in removing her from the loan.

Like | Dislike | Share | Posted: Wed, 02/24/2010 - 21:56

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Marie,

Yes, you're absolutely correct in this regard. Unless he refinances the mortgage in his name, you're financially liable for the loan. So, unless he decides to refinance, you shouldn't remove your name from the deed.

Thanks

Like | Dislike | Share | Posted: Tue, 12/04/2012 - 21:30

raymond's picture
raymond | Joined: July 3, 2009 09:38 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

>>can i take over the house payments without refinancing?

Yes.

Did he record the [url=http://www.mortgagefit.com/quitclaim-deed.html]Quit Claim Deed[/url] you signed? If he didn't, you're still on Title too and the house belongs to you 100% If he did, his Will or Living Trust will tell us who is going to inherit the house. If he didn't have a Will or Living Trust, your children will inherit it.

Like | Dislike | Share | Posted: Sat, 11/28/2009 - 10:46

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i was wondreing how can my boyfriend get his ex. name of the house. that he paid cash for. after acouple of years. of the divorce. he put her name on it when he bought it. there were divorced. for a couple of years.

Like | Dislike | Share | Posted: Tue, 04/23/2013 - 09:03 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been paying on my home by myself for a year, am current on all payments, and have a divorce decree showing that I am responsible for the mortgage. My Ex and I both want her name off of the mortgage, has anyone had any luck having Bank of America removing a name from a mortgage after it has been shown that you alone are making all the payments and the ex spouse is willing to sign that they want to be removed as well?

Like | Dislike | Share | Posted: Mon, 02/22/2010 - 16:39 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi jlg,

Now that he hasn't refinanced the mortgage in his name, you can take legal actions against him or else, you can ask him to quitclaim the property back to you. As far as the pension is concerned, you should check out the divorce decree and also get in touch with a lawyer in this regard.

Thanks

Like | Dislike | Share | Posted: Sun, 01/27/2013 - 23:49 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My wife and ex hubby brought a townhouse while married. They divorced, the ex hubby got the business and my wife got the townhouse. No [url=http://www.mortgagefit.com/quitclaim-deed.html]quit deed[/url] was signed, only the divorce papers state that the townhouse is my wife.
Since we have been married now, we have paid off the townhouse. We would like to get his name off the deed and add my name to the deed, but do not know where to start. Can you give us some advise?

Like | Dislike | Share | Posted: Tue, 06/12/2012 - 09:25 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Mac,

You and your wife can ask her ex-husband to sign a warranty deed and transfer the property to you and your wife. This will make both of you the sole owners of the property.

Like | Dislike | Share | Posted: Wed, 06/13/2012 - 01:59 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks for the reply. My wife's ex has been out of the pictures for nearly 23 years. I am not sure if she knows where he is located at now. They divorced a few years after they brought the house, from 1986 to 1989, she was paying the mortgage, then once we were married, I started paying the mortgage until the mortgage was paid off in full. I have a few questions:
1. Since the ex name is still on the deed, what would happen if something happen to my wife ...even though she has a divorce paper stating the house was given to her as part of the divorce settlement?
2. In the reply above..it stated my wife and I should ask her ex to sign a warranty deed and then transfer the property into our names. What would happen if he refuse to sign any paper work?
3. Could he come back now and want half of the townhouse?

Like | Dislike | Share | Posted: Wed, 06/13/2012 - 04:54 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Mac!

Welcome to forums!

If something happens to your wife, then the property may go to your wife's ex-husband whose name is mentioned on the property deed. She may show the divorce agreement to the real estate attorney and check out if she can get any help from him.

If the ex refuses to sign the deed, then the property will remain in the name of the ex.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Thu, 06/14/2012 - 01:15 | Post subject:

mkumar's picture
mkumar | Joined: June 15, 2012 02:30 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Mac,

You can try with the below to solve your problem...

1. Obtain an official [url=http://www.mortgagefit.com/quitclaim-deed.html]Quit Claim Deed[/url] from your title company and fill out all the information in full of your wife's property details. Check with the laws in your state to see whether or not both parties have to sign the form. (if required, send a notice to other party stating that you require signature on quit claim deed - the other party must responed to your notice, otherwise you can with attorney on further steps)

2. Get a notary public to sign and stamp the deed to make it official. Check with your local County Recorder to see whether or not your document needs to be notarized in the presence of witnesses.

3. Submit the document to the County Clerk's office in your city. The document will be filed and official copies sent to both parties as well as the title company.

4. The property is fully transfered to your wifes name.

5. Now, she can transfere the property to both of your names (like warranty deed)

Or else, you can approach Title Insurance companies and they can provide you better solution.

Thanks,

Like | Dislike | Share | Posted: Mon, 06/18/2012 - 08:51 | Post subject:

miller_st's picture
miller_st | Joined: January 17, 2007 04:47 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Christian,
"Will the lender remove me? "
You will have to talk with your lender about this. Depending on your wife's financial situation lender will let you know if she can qualify for the refinance or not.

You said that she has no problems with removing your name so I don't think you will have to force her to refinance. And she has been making the payments on her own for the last one year which means she has no objections to carrying on with the mortgage. First you talk with lender to know if she can refinance in her name or not, if her income and credit profile is good then there should not be any problem with the refinance.

Miller

Like | Dislike | Share | Posted: Thu, 06/14/2007 - 13:08 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

thanks,
she doesn't have a problem with removing me from mortgage but would have an issue with refinancing now with rates where they are. she's on a 5 year ARM due 2010. I was wondering if bank would release me from mortgage without forcing her to refinance at todays higher rates. i'm 99% sure or I guess 100% at this point that this wouldn't be allowed. at this point if bank wont remove me out of the goodness of their heart, then i'll need to force her to. i signed a quit claim deed, but don't think there is wording in the divorce decree concerning the mortgage. so the real question at this point is can i force her to refinance, since i signed the quit claim deed? thanks again...

Like | Dislike | Share | Posted: Thu, 06/14/2007 - 13:17 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Christian,

If you had to you could take her into court and have it ordered that she relieve you of liability if she has the means to do so. I have seen it done before. Good Luck

Like | Dislike | Share | Posted: Thu, 06/14/2007 - 13:28 | Post subject:

colin's picture
colin | Joined: June 30, 2006 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

You might need to contact an attorney to know if a court order can be possible to make you remove name from mortgage after divorce since you are not on the title of the house. And it can be possible that court will instruct her to do so as now she is owner of the house.

But it will depend more on court as how it sees your as well as your wife's financial condition.

Like | Dislike | Share | Posted: Thu, 06/14/2007 - 14:03 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Inquiring about a release is first avenue but remember all is not lost if you stay on the mortgage. Sure the possibility of a judgment is there if ex stops making payments but remember the liability will NOT affect your ability to get another home IF and only if the lender follows Fannie guidelines. It's the underwriter's choice and I can see why they might be queasy but make the LO present the argument.

Like | Dislike | Share | Posted: Thu, 06/14/2007 - 15:06 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

at this point my main concern is whether or not an underwriter who is looking at my new loan application to buy a new home will deny based upon existing mortgage with ex wife. I make enough to cover new mortgage payments and under normal circumstances would be approved for new mortgage and ex wife has been paying our mortgage alone for past year. will this satisfy underwriter, or will he deny based on existing mortgage?

Like | Dislike | Share | Posted: Mon, 06/18/2007 - 07:20 | Post subject:

ezmortgageloanz's picture
ezmortgageloanz | Joined: April 6, 2007 10:25 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

This is by far the most common problem I run into in my business when consulting with recently divorced individuals.

No disrespect intended to divorce attorneys, but they don't know the first thing about the consequences that divorce have on credit or mortgages.

What you have learned the hard way is that signing a quick claim deed or having a court order absolving you of future liability on your mortgage has no merit with your current lender.

Based upon the limited info you have provided, I believe there are only two ways to get your name off the deed:

- Sell the property.
- Have your ex refinance and remove your name from the deed.

No, you can't make your ex-wife do anything and this is the brick wall that most in your circumstance run into---the ex doesn't have enough income to qualify for refinance in his/her name...

If this is the case, your request to be released from the deed will surely be ignored by the current lender.

Regards,

Scott Miller

Like | Dislike | Share | Posted: Sat, 06/16/2007 - 14:31 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

scott and all, thanks, for scott - my name is off the deed of the house but its still on the mortgage. my wife would be able to refinance given her income even at higher rates, which is the main reason she is hesitant to refinance at this present time. met with mortgage broker on friday night and he is going to present the underwriter with the quit claim deed and 12 months of history from my wife's checking account illustrating that she alone is paying the mortgage. Should this be enough or will underwriter still shy away from making loan. How can I determine if the loaner is using FANNIE guidelines? Thanks again.

Like | Dislike | Share | Posted: Mon, 06/18/2007 - 07:13 | Post subject:

ezmortgageloanz's picture
ezmortgageloanz | Joined: April 6, 2007 10:25 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

This is the other bee's nest most lawyers create when handling divorce proceedings---having you remove your name from the deed (by way of a quit claim deed) without removing your name from the mortgage at the same time has in essense left your financial responsible for a property in which you have no ownership stake in/rights to.

I'm unsure whether underwriting will accept the approach your current lender is taking---at minimum, he/she should be presenting the following:

- Divorce Decree (if it indicates that you are not "legally" responsible for future mortgage payments by way of court order).
- Quit Claim Deed
- Income Documentation for your wife validating her ability to handle the indebtedness independent of your income (bank statements are beneficial in demonstrating the ebbs and flows of your ex's disposable income, but doesn't tell the lender the origin of the income---back up the bankstatement disclosure with 3 months paystubs and previous years' tax return)

Understand that you are trying to demonstrate to the lender that your ex is solvent enough to handle this loan on her own---the more proof you can offer in the way of demonstrating liquidity, no effect to her DTI, etc., the more apt the lender is willing to entertain your proposal.

As for telltale signs that your current mortgage lender is presenting a Fannie Mae loan---it's difficult to tell by what you have shared (or haven't in this case)...

Good luck and keep us posted.

Regards,

Scott Miller

Like | Dislike | Share | Posted: Mon, 06/18/2007 - 13:14 | Post subject:

miller_st's picture
miller_st | Joined: January 17, 2007 04:47 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

A new mortgage company cannot be sure that your ex will not stop payments in future and thus affect your ability to continue both the payments.

"at this point my main concern is whether or not an underwriter who is looking at my new loan application to buy a new home will deny based upon existing mortgage with ex wife. "

You will not be denied a loan but the rates could be higher based on the risk factor they will have to bear because of the present mortgage obligation that you still have.

Miller

Like | Dislike | Share | Posted: Mon, 06/18/2007 - 16:52 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been making the mortgage payments after a divorce and the house has been on the market for over a year. I live in the home and can well aford to make the necessary repairs which I would do if I was able to refinance into my name only. My ex-wife would be agreeable and I would buy her out. Can a house be refinanced if it's been on the market? Thank you.

Like | Dislike | Share | Posted: Sun, 11/02/2008 - 08:38 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi home on mkt - refi!

As far as I know, you will not be able to refinance the property as it is up for sale. The lenders do not generally do that. You can still have a talk with the lender. If you want to make home improvements, you can take away the from from the market. You can then repair it with a home improvement loan or refinance and then put the house again for sale. You can consider this option if you feel you can afford it.

Thanks.

Like | Dislike | Share | Posted: Sun, 11/02/2008 - 22:56 | Post subject:

cher22m's picture
cher22m | Joined: February 7, 2009 10:25 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

my exhusband wants me to sigh a quit claim deed in Mass. THEN he wants
to refinance with Bk America after I'm off the deed is this wise? Shouldn't we both go to court and get the judges approval...I'm not sure that I'll be relieved of all financial responsiblilites. I'd rather have all this done simultaneoulsly? some one please help me find a solution he lives in the home with our 10 yr old daughter, and I do not want to look like the big bad wolf, I have just been diagnosed with breast cancer and don't want to
lose

Like | Dislike | Share | Posted: Sat, 02/07/2009 - 22:58 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

There's little you can do about it. The only thing you can do is to wait until you complete 1 year at the job. However, contact other lenders as well and find out if they can help you in any way. Some lenders may agree to offer you a loan, but they would charge high a rate of interest or would want you to put down a lot of money.

Like | Dislike | Share | Posted: Mon, 04/13/2009 - 05:20 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am in the process of getting a divorce and only worked part-time but since have completed schooling and now work 1 full time and 1 part time job. I went to the bank to get my ex to bes name removed and the loan refinced but was turned down because I havent been at the job for a year. Is there anything I can do?

Like | Dislike | Share | Posted: Sun, 04/12/2009 - 12:01 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Fiance was court ordered to pay Mortgage, and let ex spouse live in home only. Ex spouse can not afford to live in home ( could not pay utilities), pipes burst last winter, she and children moved out of home. Fiance continues to pay Mortgage. Both names are on deed. The house is in very poor condition but he now has someone that wants to buy the home. Ex spouse doesn't want to sell, wants house to go into foreclosure because she knows this will effect his credit. She has no income except alimony for children. What can he do?

Like | Dislike | Share | Posted: Wed, 08/12/2009 - 20:01 | Post subject:

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Wanda,

Fiance will not be able to sell the house without his ex-wife's consent because she is still on the property deed. She is one of the legal owners of the property. Is her name on the mortgage as well? If it is, then her credit will also get affected in case the house goes into foreclosure.

He can talk with his ex-wife and settle the matter out-of-court. He can offer her a certain part of the profit made from the sale of the house. In case, she does not want to co-operate, he needs to drag the matter to the court to force a sale of the house. Since she no longer stays in the property, the judge may order a forced sale of the house.

Like | Dislike | Share | Posted: Thu, 08/13/2009 - 00:17 | Post subject:

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jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi robinrrb,

Is your husband's name on the title to the condo? If his name appears on the condo, he does have an ownership right to the property. But if your name is the only name on the title, you're the sole owner of the property. In that case, he cannot claim an interest in the property, even though he signed on the second mortgage documents. However, if you're in a community property state and your husband helps you pay the mortgages on the condo, he can have a certain amount of interest in the property.

Like | Dislike | Share | Posted: Mon, 09/21/2009 - 03:56 | Post subject:

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