Posted on: 24th Jan, 2010 04:53 pm
Can my wife be removed off a mortgage loan? We are still married but I would like to separate our credit debts. She is thinking of bk on her debts and I don't want it to affect the house or me. I'm already taking care of all the debts that are in both of our names, but she quit paying her bills because she cannot find work, and I can't take on anymore than I’m doing now
hi guest!
welcome to forums!
if the property is jointly owned by both of you, then you should first ask her to sign a quit claim deed and transfer the property to you. once she does so, then you can refinance the loan in your name. however, after a property transfer, your wife won't be able to file bankruptcy immediately. she will have to wait for at least a year in order to do so.
feel free to ask if you've further queries.
sussane
welcome to forums!
if the property is jointly owned by both of you, then you should first ask her to sign a quit claim deed and transfer the property to you. once she does so, then you can refinance the loan in your name. however, after a property transfer, your wife won't be able to file bankruptcy immediately. she will have to wait for at least a year in order to do so.
feel free to ask if you've further queries.
sussane