Posted on: 10th Sep, 2009 06:50 am
I am currently trying to remove my name from my ex wifes mortgage. We divorced a little over two years ago. I'm remarried now and with a baby on the way I'd like to think about getting my own home. The problem is that I cannot be financed for a home when I'm already on the mortgage for my ex wife's home.
well, jerome, you can't simply remove your name from that mortgage. it's a process. you do have a couple of options that you can attempt. one is novation - this is a process by which the lender can consider eliminating your responsibility if your ex-wife can be found to be suitable as a sole borrower.
you can also ask her if she would be able to refinance the existing mortgage - did you and she settle on the property at the time of your divorce - that is, did you quit claim your interest to her? that, of course, would be necessary.
check into these two options and see what, if anything, you're able to do.
you can also ask her if she would be able to refinance the existing mortgage - did you and she settle on the property at the time of your divorce - that is, did you quit claim your interest to her? that, of course, would be necessary.
check into these two options and see what, if anything, you're able to do.
you ask your Ex to get mortgage refinanced in her name
yessirree, boss
hi jeromewymore ,
The only way for you to remove your name from the mortgage is for her to refinance. As for having trouble getting credit what you can try is contact the company denying you credit, if it is based on you have to much out standing debt, ask them if you can show them a copy of the divorce decree stating that you are not responsible for the mortgage. Sometimes that helps... at least when applying for a loan.But still find out if she is she can or is willing to refinance, that is the only way to remove your name from the mortgage.
The only way for you to remove your name from the mortgage is for her to refinance. As for having trouble getting credit what you can try is contact the company denying you credit, if it is based on you have to much out standing debt, ask them if you can show them a copy of the divorce decree stating that you are not responsible for the mortgage. Sometimes that helps... at least when applying for a loan.But still find out if she is she can or is willing to refinance, that is the only way to remove your name from the mortgage.