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How binding is a Separation Agreement when refinancing?


I am in the process of seeking to refinance my home in order to have my ex-husband's name removed from the mortgage. The mortgage lender has now requested a copy of our Separation Agreement. The information in our Agreement is not accurate in reference to my house as my ex and I came up with a different agreement after our divorce was final. Should I state the changes in the agreement and have my ex write a letter that verifies this information? In the Agreement it states that the house would be sold and that we would split any profit OR that I would buy him out and give him half of the equity. At this place and time he has agreed not to take any money for the house - he just wants his name off of the mortgage. Will the info in my Separation Agreement hurt my chances of a [url=]refinance[/url]?

Thanks in advance. :)

bearboysj's picture
bearboysj | Joined: October 25, 2008 09:57 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Typically, if there is an alteration to the originally filed/recorded seperation agreement you would need to file an amendment to the original filing.

Having your husband write the letter won't really do any good as the underwriter doesn't know if your husband truelly wrote the letter or not.

At this point, I would send in your seperation agreement with a letter of explanation and see if they take it - if not, they will advise you on what you need to do to do this refinance.

Good luck.

Like | Dislike | Share | Posted: Thu, 10/30/2008 - 12:12 | Post subject:

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

Hi naneliz!

Welcome to forums!

I think it will be better if you can file an amendment to the original filing (as mentioned by bearboysj). Along with this, you should also contact the lender and discuss the whole situation with him. They will guide you in getting a refinance.

Feel free to ask if you have further queries.


Like | Dislike | Share | Posted: Thu, 10/30/2008 - 20:07 | Post subject:

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