Posted on: 05th Jan, 2010 10:02 am
i am out of work trying to get ss disability my wife works never late on house payment i have car payment almost went in to repo but got help but now hounding me for another28.00 interest i want my name off the mortgage so if i go bankrupt they will not attach the house i have gap on my car very tempting but can my name be removed and if so can they still attach the house even with my name off? going thru a very tough time now not sure what to do anymore.thank you
hi rparent!
welcome to forums!
in order to remove your name from the mortgage, your wife will have to refinance it in her name. not only this, you'll also have to remove your name from the property deed by signing a quit claim deed in her favor. however, you won't be able to file bankruptcy immediately after transferring property and mortgage. you'll be able to file bankruptcy after at least 1 year. if you do it before that, the transfer of property will be considered as fraudulent.
feel free to ask if you've further queries.
sussane
welcome to forums!
in order to remove your name from the mortgage, your wife will have to refinance it in her name. not only this, you'll also have to remove your name from the property deed by signing a quit claim deed in her favor. however, you won't be able to file bankruptcy immediately after transferring property and mortgage. you'll be able to file bankruptcy after at least 1 year. if you do it before that, the transfer of property will be considered as fraudulent.
feel free to ask if you've further queries.
sussane
hi rparent,
if you want to remove your name off the mortgage, you will have to refinance it again.
if you want to remove your name off the mortgage, you will have to refinance it again.
as sussane pointed out, you need to be quite careful in your timing.
