Posted on: 30th Jan, 2012 07:04 pm
Purchased home Nov 2010. Wife moved out May 2011. Soon to be divorced. Can I take her name off deed and our FHA mortgage. I have a good job and have made all payments on time since we bought the house. We paid $142,500 and balance is $139,000+. She will waive her interest in the small equity we have in the house. I can take money from my 401k if need be but probably can not get to 20% down due to penalties and taxes on the 401k withdrawal.
Current mortgage is held by PHH and calling their customer service line is useless. They BARELY speak english! I have read about FHA Streamline but I do not fully understand it. I appreciate any help anyone can offer me.
Current mortgage is held by PHH and calling their customer service line is useless. They BARELY speak english! I have read about FHA Streamline but I do not fully understand it. I appreciate any help anyone can offer me.
A lot depends on your particular situation. In general, it's a good idea to finalize a divorce.
:idea:
:idea:
hi ctwindber!
welcome to forums!
your wife will have to sign a quitclaim deed and transfer the property to you. this will make you the owner of the property. as far as the mortgage is concerned, you will have to refinance the mortgage.
feel free to ask if you've further queries.
sussane
welcome to forums!
your wife will have to sign a quitclaim deed and transfer the property to you. this will make you the owner of the property. as far as the mortgage is concerned, you will have to refinance the mortgage.
feel free to ask if you've further queries.
sussane
