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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 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:

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,
[quote:c589894c7b]Will the lender remove me? [/quote:c589894c7b]
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.

[quote:bb58f163b7]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. [/quote:bb58f163b7]

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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