Posted on: 31st Jan, 2008 10:56 am
i just got divorced and my ex signed a quitclaim deed to our home. i am now a single mother of 4 children and my income is limited. i have to refinance the loan in my name now, but am wondering if i can start where we left off in what we owe,and just remove his name, or is there programs out there to help me get my monthly mortgage payments lowered? thank you, paula sparks
Hi rpkroll,
Welcome to the forum.
It is possible that you can make the monthly payments lower by increasing the duration of the loan period.
How much do you owe to the lender? How much is your monthly mortgage payment?
Welcome to the forum.
It is possible that you can make the monthly payments lower by increasing the duration of the loan period.
How much do you owe to the lender? How much is your monthly mortgage payment?
the amount still owed on the home is a little over $67,000. My monthly mortgage payments are $635.00
Hi rpkroll,
Welcome back.
So as you are actually taking the loan on your name, you can ask the lender to decrease your monthly payments by increasing the loan period. Hope he will cooperate with you. But if he does not agree, you can shop a bit for lenders and surely will be able to find one who can offer you better rates and terms.
Best of luck.
Welcome back.
So as you are actually taking the loan on your name, you can ask the lender to decrease your monthly payments by increasing the loan period. Hope he will cooperate with you. But if he does not agree, you can shop a bit for lenders and surely will be able to find one who can offer you better rates and terms.
Best of luck.
If the home is in your name but mortgage still in both of your name you can tell your ex to pitch in cause his credit will also be ruined in case of your foreclosure
you can also go back to court
what did the judje say about this when you told hime you cant afford to refi or the current payments?
as far as refinance if your income and credit is good enough you might be able to get better payments with an FHA loan but that whould depend on your qualifications.
you can also go back to court
what did the judje say about this when you told hime you cant afford to refi or the current payments?
as far as refinance if your income and credit is good enough you might be able to get better payments with an FHA loan but that whould depend on your qualifications.
I suggest trying to refinance instead of going back to the courts. There are some options that allow you to reduce your mortgage payments for a while and then you can pay more later. I would try this first.