Consumption and Real Estate
My wife and I are going through a friendly divorce. How can we remove her from our home loan without refi ?
Question : My wife and I are going through a friendly divorce. How can we remove her from our home loan without refi ?
home loan refi
Best answer:
Answer by Royalhinney
I don’t believe that you can do that without refinancing the loan. Call your mortgage lender to ask what can be done.
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#2 written by melissa 1 year ago
Hello,
My name is Melissa and I am going through tough time. I read an article in regards to how This GOD fearing and faithful man (Anold Marvis) helped people who are down on their luck. I take care of my diabled mother and 2 of my sisters kids that she gave up to be with another man. I have worked day after day to just make the income needed to get the bare neccessities, but I fell ill last month and was not able to work and now have to retrain to find another job because of my illness I am no longer able to perform the duties needed in order to keep my other job so I had to resting my position. I am now stuggling and between myself and what little income that my mother gets from the state is not enough to keep our heads above water. We even go times without eating and on the verge of losing our place of stay. I was told he can help and i applied for a loan of $ 50,000 USD which i am most elated today that it was given to me with duration of 3 years. I am most grateful for his help that i and my family promise to tell the world of his Goodness. He can also help you if you are faithful by showing to him your ability to pay back the loan at the due time. His firm email account is arnoldlnaffairs9@yaho.com -
#3 written by Beatngu 1 year ago
You can’t. It all has to be refinanced into your name only. Talk to your credit union/bank/etc. to see what all needs to be done.
I worked years at a credit union and I know its illegal to take her off of anything, even a savings account. The NCUA states that you must open everything new and then can transfer from there. Good luck to you.
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#4 written by Kristi S 1 year ago
I have been in the mortgage business for 5 years I know you can’t remove her from the loan but you can from title. She will still have the loan on her credit as a debt and if you default on the loan it will hurt her also. It may be in your best interest to Refi unless you can come to an agreement with her to make the payment on time and when she needs to buy you help her to qualify
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#5 written by Chill 1 year ago
This is an easy one. You just need to contact a real estate attorney or title company (depending on your state), and have them prepare a quit-claim deed to remove her from the title. By her signing this instrument, she is effectively signing away her ownership interest in the property. One IMPORTANT Caveat: If both of you are on a mortgage note together, she will not ber absolved from that debt EVEN AFTER executing and recording the QC Deed. Only way to get her off of the mortgage notes would be to refinance.
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#6 written by lighteningbee 1 year ago
Speaking from experience… The only way for this can happen is if your mortgage has a clause in it where one of you can assume responsibility. If you call your mortgage company and ask them they can tell you if you have an assumption clause (I think that is what it is called). It is rare but can happen. My ex had to refinance. Hope this helps and good luck!!!
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#8 written by vtjames7433 1 year ago
It has been a while but when I divorced my ex wife, we had a divorce decree that said what possessions each recieved. For the houses/properties I kept, I sent them the decree and a letter asking for her name to come off, they sent me a form for her to sign with a notary to take her name off. For the house she got, we did the same thing, It was relatively easy. (Just for the record, no I am not wealthy but quite the opposite- long story)
As an aside for those mentioning a quit claim, that takes the name off the DEED not the FINANCING -
#10 written by redpeach_mi 1 year ago
you can’t. i tried to do this with a house the i shared with someone that i wasn’t even married to and we were told that the only was was to refinance. however, i know that he would never default on the loan and i signed over my rights to the house. as far as i know, my name is still on the loan, but he pays it every month and it helps my credit.
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#11 written by hexeliebe 1 year ago
This is a question you need to ask your mortgage lien holder. They are the only ones who can grant a new mortgage or revise the existing one.
FOR MINDY:
Just for further education. While the court can order one spouse to be responsible for the mortgage, they cannot encumber a third-party not involved in the divorce to abide by their decision.
Therefore, being ordered to pay the mortgage in no way affects the mortgage as it is recorded, only that parties responsibilities under court order.
In fact, if one party is ordered to pay the mortgage and does not, the mortgage lien holder can and most times does sue the other party for recovery and is perfectly right to do so.
To recover, the injuried party must then return to court on a show cause motion.
TO DEBORAH:
A quit claim give title by deed, the mortgage is a separate instrument and does not convey ownership only debt. - Comment Feed for this Post
Who is “we”? BTW no divorce is ever really “friendly” LOL.