Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.
Mortgage Community Forums | Deeds, Property Transfer and Estate Planning | Novation

Novation

Posted on: 12th Sep, 2009 10:15 am
can a husbands name be taken off the loan completely by using the novation with the bank giving the permission and the wife does not have to refinance the loan just putting the loan in the wife name. mack phillips
Check this outt

http://www.mortgagefit.com/discuss/about2128.html
http://www.mortgagefit.com/discuss/quitclaimdeed-novation.html .
sunnyca2009
Posted on: 12th Sep, 2009 10:32 am
Also this one

http://www.mortgagefit.com/know-how/about5787.html
sunnyca2009
Posted on: 12th Sep, 2009 10:32 am
Mack Phillips,

welcome to mortgage forum.

you are right. novation with permission from lender is the cheapest of mortgage refinance.

but then wife will be answerable for mortgage
simonhovell
Posted on: 12th Sep, 2009 12:05 pm
Hi phil,

You will qualify for a novation or a refinance only if there is equity in the property. Moreover, it's a lender's discretion whether or not he would accept your request for a novation. Most lenders prefer refinance over novation.
adonis
Posted on: 13th Sep, 2009 10:11 pm
Page loaded in 0.082 seconds.