Posted on: 06th Apr, 2009 09:35 am
my former husband deeded our home to me in our divorce settlement (he signed an interspousal transfer deed), though we are still both on the mortgage loan. i am making all of the payments, however i cannot qualify to refinance on my own. my current partner, who is not on the deed as yet, is willing to assume the mortgage and/or refinance with me, but we are not ready to do that yet. meanwhile, can the mortgage company (countrywide) legally call in the entire loan (acceleration) because my husband transferred the title to me?
No, the deed and the mortgage are two different things. Your former husband is still responsible for the mortgage on the house, unless you refinance.
Hi Guest,
As your ex-husband has already transferred the property to you, it would be better if you refinance the mortgage as soon as possible. Bill is correct that your former husband is still responsible for the loan as you haven't refinanced it. However, I don't think the lender would immediately call the entire loan due.
Thanks
As your ex-husband has already transferred the property to you, it would be better if you refinance the mortgage as soon as possible. Bill is correct that your former husband is still responsible for the loan as you haven't refinanced it. However, I don't think the lender would immediately call the entire loan due.
Thanks