Posted on: 08th Sep, 2009 04:58 am
I am recently divorced. The Divorce Judgment states that my ex-husband is financially responsible for the mortgage, taxes, ect. It is noted that I retain ownership of the house (tenants in common). The mortgage is in the rears and it is now affecting my credit. Is it possible for me to remove my name from the mortgage while retaining ownership? If so, how?
Thank you!
Thank you!
hi,
in order to remove your name from the mortgage your husband needs to refinance the existing loan in his name. no lender would want to take your name off the loan, unless your husband refinances in his name. you can still retain your ownership, provided you do not sign over your share in the property to him. however, he needs to have a good credit score and income to be able to refinance in this market.
in order to remove your name from the mortgage your husband needs to refinance the existing loan in his name. no lender would want to take your name off the loan, unless your husband refinances in his name. you can still retain your ownership, provided you do not sign over your share in the property to him. however, he needs to have a good credit score and income to be able to refinance in this market.