Posted on: 13th Jul, 2009 09:09 am
My ex-fiance are splitting up and the deed plus the mortgage companies are in my name. I am moving out but he wants to keep the house. We are way behind on the mortgage and his credit will not let him get a loan. I was asking how i can get all these things into his name. I do not want to move out and everything still be in my name since i will not be living here.
hi bridgman!
welcome to forums!
you can transfer the property to your ex-fiance and he will have to refinance the loan in his name. if he does not have a good credit, it would not be possible for him to refinance the mortgage in his name. moreover, you've mentioned that you are way behind in your mortgage payments. this will also hamper his chances of refinancing the loan. in my opinion, it would be better if you could apply for a deed in lieu and sell off the property. though it will effect your credit score, you won't be liable for the mortgage anymore.
sussane
welcome to forums!
you can transfer the property to your ex-fiance and he will have to refinance the loan in his name. if he does not have a good credit, it would not be possible for him to refinance the mortgage in his name. moreover, you've mentioned that you are way behind in your mortgage payments. this will also hamper his chances of refinancing the loan. in my opinion, it would be better if you could apply for a deed in lieu and sell off the property. though it will effect your credit score, you won't be liable for the mortgage anymore.
sussane