Posted on: 24th Mar, 2010 07:49 am
soon to be ex-spouse refinanced a second home to remove my name from the loan/promissory note, which was to be reqired in the divorce decree that would ultimately be issued. however, the closing agent had me sign the mortgage/deed of trust instead of a quit claim deed. as a result i am on the mortgage/deed of trust as well as the deed. i am required to file the quit claim deed as part of the divorce decree but my attorney says not to until my name is off the mortgage/deed of trust. can my ex-spouse have my name taken off the mortgage/deed of trust without refinancing the loan?
Hi rpettis,
The lender will want your spouse to refinance the loan and remove your name from the property deed. However, your spouse may speak to the lender and check out if novation is an option in this case. This is also a way of removing your name from the mortgage docs. However, it's completely the lender's discretion whether or not he would agree to your spouse's request.
The lender will want your spouse to refinance the loan and remove your name from the property deed. However, your spouse may speak to the lender and check out if novation is an option in this case. This is also a way of removing your name from the mortgage docs. However, it's completely the lender's discretion whether or not he would agree to your spouse's request.