Hi Mchavez,
Welcome to the forums.
Currently you and your ex are on the title to the property. But I guess he wants you to take over the loan entirely as he will be leaving the property soon. So, what you can do is, talk to the lender and inform him about the refinance and the transfer.
Now, the lender will consider your financial situation and creditworthiness before allowing you to refinance. Also, if he is not able to offer you a new loan, you can try and look out for other lenders as well. Just see that the new rate offered is lower than your current rate of interest or else how will you save through lower payments after the refinance. At the time of refinance, the title can be transferred but you need to inform the lender that you are planning to do so.
Take Care
Welcome to the forums.
Currently you and your ex are on the title to the property. But I guess he wants you to take over the loan entirely as he will be leaving the property soon. So, what you can do is, talk to the lender and inform him about the refinance and the transfer.
Now, the lender will consider your financial situation and creditworthiness before allowing you to refinance. Also, if he is not able to offer you a new loan, you can try and look out for other lenders as well. Just see that the new rate offered is lower than your current rate of interest or else how will you save through lower payments after the refinance. At the time of refinance, the title can be transferred but you need to inform the lender that you are planning to do so.
Take Care
Hi Mchavez,
Welcome to the forum.
Sara has given you sound info. I think your ex is willing to stay on the title until you refinance because he may be afraid of being on the mortgage. So if you can refinance the mortgage on your name he will be put of the mortgage responsibilities.
So talk to your lender ASAP to check out if he can help you to refinance the loan on your name.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
Sara has given you sound info. I think your ex is willing to stay on the title until you refinance because he may be afraid of being on the mortgage. So if you can refinance the mortgage on your name he will be put of the mortgage responsibilities.
So talk to your lender ASAP to check out if he can help you to refinance the loan on your name.
Feel free to ask if you have any further questions.
Best of luck,
Larry