Posted on: 24th Aug, 2009 05:08 pm
I signed a contract with my x-wife and she bought me out of the equity in our home. The contract did not specifically say should take over the morgage just in her name, and now she is refusing. So, I have now grant deeded the home over to her, but I am still on the mortgage.
Is there anyway to get me off the mortgage?
Is there anyway to get me off the mortgage?
Hi fk,
A refinance seems to be the only way to get your name off the loan. Since you have grant deeded the property to your ex-wife, you do not have any interest in the property. But unless she refinances in her name, your name will remain on the mortgage. You can also request the lender to get your name off the loan as you no longer have any interest in the property. But given the increasing number of defaults, the lender may not be willing to release you from the liability, without her doing a refinance.
A refinance seems to be the only way to get your name off the loan. Since you have grant deeded the property to your ex-wife, you do not have any interest in the property. But unless she refinances in her name, your name will remain on the mortgage. You can also request the lender to get your name off the loan as you no longer have any interest in the property. But given the increasing number of defaults, the lender may not be willing to release you from the liability, without her doing a refinance.