Posted on: 05th Sep, 2009 06:46 am
I recently divorced and the Judge awarded me the home. The mortgage is in both or names and my ex wants her name off the loan. I spoke with naca who did a loan modification with just me and lowered my payment from 2300 to 690. How can I get my wife of the loan.
hi sboyd,
a loan modification does not remove a borrower's name from the mortgage. it simply modifies the rate and terms of the loan to help the borrower(s) afford the mortgage payments. if you want to take your ex's name off the loan, you need to refinance it in your name.
a loan modification does not remove a borrower's name from the mortgage. it simply modifies the rate and terms of the loan to help the borrower(s) afford the mortgage payments. if you want to take your ex's name off the loan, you need to refinance it in your name.
Nice question and equally good reply. I am not married as yet but it is better to know few things before you do get in to it.