Posted on: 11th Sep, 2013 03:31 pm
My first lawyer told me, during the Mediated Settlement Agreement meeting for my divorce, that I had to let my wife assume the mortgage on our house because it was a marital debt. Unfortunately I believed him. My loan company says the loan is not assumable. The divorce judge recently ruled my ex could assume even though my new lawyer presented a letter from my mortgage company that said she couldn't assume it. There is a federal law named "Garn-St.-Germain Law " enacted in 1982 that I believe suports the ability of a spouse taking over the house to assume an unassumable loan due to a divorce decree. Is there anybody out there that can help me get this loan out of my name? Help! I'm in Texas btw.
Hi dino!
Welcome to the forums!
Unless your wife assumes the loan or refinances it in her name, you will not be able to remove your name from the mortgage docs.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Unless your wife assumes the loan or refinances it in her name, you will not be able to remove your name from the mortgage docs.
Feel free to ask if you've further queries.
Sussane
Hi dino,
As the divorce judge has given the ruling that your wife can assume the mortgage, then she should go ahead and contact the banks to get the loan refinanced.
Thanks
As the divorce judge has given the ruling that your wife can assume the mortgage, then she should go ahead and contact the banks to get the loan refinanced.
Thanks