Posted on: 10th Mar, 2007 09:59 am
i've been divorced for 3 years at that time my husband signed a quit claim deed to the house. i've never notified the mortgage company and i have 6 years left on my mortgage. do i need to notify the mortgage company? would i be required to refinance under my name alone? or is my mortgage safe as is without doing anything else.'
please email me your answer at "my4irish@sbcglobal.net"
[size=9:75e56bd300][color=red:75e56bd300][email address deactivated as per forum rules][/color:75e56bd300][/size:75e56bd300]
please email me your answer at "my4irish@sbcglobal.net"
[size=9:75e56bd300][color=red:75e56bd300][email address deactivated as per forum rules][/color:75e56bd300][/size:75e56bd300]
Hi Sheila,
Welcome to the forum.
It feels good to know that there are only few years left on the loan.
It seems that your husband has given away the property to you after divorce. But the loan is in your name.
Now, whether the loan is currently in your name or your husband has been a co-borrower, it is better to inform the mortgage company. This should be done because the company having offered you loan, it has an interest in your property.
However, if the loan has been in your name solely, then you need not refinance.
If you think there is something more on which you need advice, please feel free to come up with it.
Thanks,
Jerry.
Welcome to the forum.
It feels good to know that there are only few years left on the loan.
It seems that your husband has given away the property to you after divorce. But the loan is in your name.
Now, whether the loan is currently in your name or your husband has been a co-borrower, it is better to inform the mortgage company. This should be done because the company having offered you loan, it has an interest in your property.
However, if the loan has been in your name solely, then you need not refinance.
If you think there is something more on which you need advice, please feel free to come up with it.
Thanks,
Jerry.
"Do I need to notify the mortgage company? Would I be required to refinance under my name alone?"
Presently you and your ex-husband are on the mortgage. If you do not inform the lender and within these 6 yrs. due to some financial problems stop making payments then lender would ask for immediate pay off.
Let me also tell you that when property ownership changes lender should be informed. It is up to him to decide whether he allows the new owner to refinance or demand a pay off.
Presently you and your ex-husband are on the mortgage. If you do not inform the lender and within these 6 yrs. due to some financial problems stop making payments then lender would ask for immediate pay off.
Let me also tell you that when property ownership changes lender should be informed. It is up to him to decide whether he allows the new owner to refinance or demand a pay off.