Posted on: 09th Jul, 2010 06:46 pm
my husband and i divorced in 2007 and throught much litigation he got the house with the stipulation that he would live in it for 2 yrs then sell and we would split the proceeds from the sell. i found out 6 months later he moved out of the house, stop paying the mortgage and i received a knock on my front door from the sheriffs dept. stating the house was going for foreclosure. he did other things to mess up my credit that i was forced to file bankruptcy. he is now living back in the house, paying the mortgage, remarried and due to his bad credit he is unable to refinance. my name is still on the mortgage. how do i get my name off of the mortgage and be able to finance a house for me an my kids
Hi dozier,
I can understand that you're in a tough situation. But you should note that unless your husband refinances the loan in his name, you won't be able to remove your name from the mortgage docs. In order to refinance, he would require to have a good credit score and income. He should take steps to improve his credit score asap and try to refinance the home loan.
Your husband can check out the given page in order to know some steps to improve his credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
I can understand that you're in a tough situation. But you should note that unless your husband refinances the loan in his name, you won't be able to remove your name from the mortgage docs. In order to refinance, he would require to have a good credit score and income. He should take steps to improve his credit score asap and try to refinance the home loan.
Your husband can check out the given page in order to know some steps to improve his credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
A warranty deed would have been the best option here, where the transfer of property is concerned. But that would not be possible since you have a mortgage lien. A refinancing of the existing mortgage can help. Refinancing means paying off the existing mortgage and creating a new one. In fact, you can also combine the primary and the secondary mortgage into a new loan. This would reasonably reduce the mortgage interest by increasing the size of the down payment.
But in your case this does not seem to be much feasible since you have already mentioned that you have filed for bankruptcy. However, you said that your husband is now paying for the mortgage again. So ask him to go for a refinancing as would considerably reduce his loan payments than what he is paying now, and at the same time will also clear your name off the mortgage agreement.
But in your case this does not seem to be much feasible since you have already mentioned that you have filed for bankruptcy. However, you said that your husband is now paying for the mortgage again. So ask him to go for a refinancing as would considerably reduce his loan payments than what he is paying now, and at the same time will also clear your name off the mortgage agreement.