Posted on: 14th May, 2010 11:05 am
without us refiancing the house, I will as well, he doesn't want the house and willing to let me have it. what would be the best way without refancing because I have bad credit. can we do a simple assumption leaving the house in is name and I make the payments .That if he dies that I am his beneficiary and that way I don't get the house took from me. and in the assumption can we add me to a quick deed an filed so I have something to stand on. He is willing to do all of this but we don't know what would be the best way , he is willing to walk away from the house but leave his name on it ,but if he dies I need to know what I can do to not to have the house took from me...without refiancing...
You can ask your ex-husband to sign a quit claim deed and transfer the property to you first. Thus, you would become the owner of the property. If the mortgage is in both the names, then you can apply for a simple assumption of the loan. However, in most cases, the lender will ask you to refinance the mortgage.