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Mortgage Community Forums | Forums: Learn from other's experiences | Loan Assumption

Loan Assumption

Posted on: 13th Jul, 2012 10:02 am
i was divorced 3 years ago and my ex forfeited any rights to our home through a quit claim deed. i am now in the process of looking to purchase a new home, but my ex is still a co-borrower on the loan for the house we shared together.

what is the quickest and easiest way to remove her name from the loan? i don't want to refinance a house that i am going to sell.

thanks.
hi brian,

unless you refinance, you won't be able to remove your ex-spouse's name from your mortgage. you can apply for novation in order remove her name from the docs. but it will be the lender's discretion whether or not he will consider your request.
adonis
Posted on: 13th Jul, 2012 10:46 pm
hi brian,

i agree with the opinion of adonis. in order to know all about novation, check out the given page: http://www.mortgagefit.com/know-how/novation-mtg.html .

thanks
jameshogg
Posted on: 15th Jul, 2012 10:17 pm
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