Posted on: 16th Feb, 2009 05:45 pm
Is there a way to get your name off of a Mortgage without refinancing?...I got a divorce about two years ago and I gave my ex husband the house. I haven't made any payments on the house in two and a half years. Is there anyway that I can get off the mortgage without him refinancing? His credit is in the low 500's. Also, I am remarried and we have good credit scores together and would like to buy a house. I also live in Indiana. I don't know if that makes a difference. Any advice you have would be great! Thanks
Hi arun!
Welcome to forums!
You can ask the co-borrower to go for a novation or simple assumption in order to remove your name from the mortgage and transfer it in his or her name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can ask the co-borrower to go for a novation or simple assumption in order to remove your name from the mortgage and transfer it in his or her name.
Feel free to ask if you've further queries.
Sussane
I am married i havent lived in the family home in 4 years and i want to buy a new home but my name is on that mortgage. What do i do?
hi alexis!
welcome to forums!
you should ask the other family members to refinance the mortgage in their names. this will release you from any liabilities toward the mortgage payment.
feel free to ask if you've further queries.
sussane
welcome to forums!
you should ask the other family members to refinance the mortgage in their names. this will release you from any liabilities toward the mortgage payment.
feel free to ask if you've further queries.
sussane
Hello, I currently have a mortgage with my ex. He has been living in the house by his self for 1 year and making all the payments. His credit is very good but he just lost his job. Being young my credit is good but my income is not high enough for both a car and house. I quick claimed the house almost a year ago not fully knowing that it did NOT remove my name from the loan... please any information would help
Hi heather,
Unless your ex refinances the mortgage in his name, your name won't be removed from the property deed. However, as your ex has lost his job now, he won't be able to get a refinance. You and your ex can sell off the property through a deed in lieu of foreclosure. However, this will affect your credit scores in a negative way.
Unless your ex refinances the mortgage in his name, your name won't be removed from the property deed. However, as your ex has lost his job now, he won't be able to get a refinance. You and your ex can sell off the property through a deed in lieu of foreclosure. However, this will affect your credit scores in a negative way.
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