Posted on: 16th Oct, 2008 08:57 pm
my boyfriend is in prison, i am currently living in the house that we purchased together. the loan is in his name but the property is in both our names. i sent a quick claim to the prison and had him sign it to add my name to the deed. i have been making the payments on the loan for the past three years, and now he says that i can keep the house if i finish paying for it. i don't want to refinance because there is less than six years owed on the loan. my question is how do i get him completley off the deed without having to refinance? i i want to continue making the payments on his loan but i need some kind of assurance that it will be mine once the loan is paid. he has agreed to sign off the deed. how can i do this or is this even possible since there is a lean on the property?
thanks
spinningreel
thanks
spinningreel
hi spinningreel!
if you want to take off your boyfriend's name, you can ask him to sign a reverse quitclaim deed in your name and give away his interests in the property. once the property is solely in your name, the lender may ask you to refinance the mortgage in your name and this is what the lenders prefer. however, if you are unable to do that, you can try for the process of novation. but this will depend on the discretion of the lender whether he will accept novation or not.
thanks.
if you want to take off your boyfriend's name, you can ask him to sign a reverse quitclaim deed in your name and give away his interests in the property. once the property is solely in your name, the lender may ask you to refinance the mortgage in your name and this is what the lenders prefer. however, if you are unable to do that, you can try for the process of novation. but this will depend on the discretion of the lender whether he will accept novation or not.
thanks.