Posted on: 12th Aug, 2013 12:31 am
Will it be possible for us – husband and wife - to split homes. We own 2 properties and we are not divorcing. We are just trying to separate mortgages.
Hi Guest,
Both of you will be able to do so by buying out each other out of each mortgage by refinancing. If both of you are joint owners of the properties, then both of you have to transfer each other's share from the properties by using a quitclaim deed.
Thanks,
Jerry
Both of you will be able to do so by buying out each other out of each mortgage by refinancing. If both of you are joint owners of the properties, then both of you have to transfer each other's share from the properties by using a quitclaim deed.
Thanks,
Jerry
Hi Guest!
Welcome to the forums!
Yes, splitting properties and mortgages may be possible. You need to contact your lender in order to check out if both of you will be able to refinance the property. Getting a refinance will also depend upon the equity you have in the property.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Yes, splitting properties and mortgages may be possible. You need to contact your lender in order to check out if both of you will be able to refinance the property. Getting a refinance will also depend upon the equity you have in the property.
Feel free to ask if you've further queries.
Sussane