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    marcoj's Avatar
    marcoj Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 3, 2007, 08:17 AM
    Removing ex spouses name from mortgage
    I was awarded the marital home in a divorce settlement and my wife is supposed to execute a special warranty deed in conformity with this award. Will I be able to refinance the home in my name Only if she refuses to sign the deed?
    rockinmommy's Avatar
    rockinmommy Posts: 1,123, Reputation: 82
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    #2

    Aug 3, 2007, 11:34 AM
    Quote Originally Posted by marcoj
    I was awarded the marital home in a divorce settlement and my wife is supposed to execute a special warranty deed in conformity with this award. Will I be able to refinance the home in my name Only if she refuses to sign the deed?
    Whose name is the financing in, and whose name is the property itself in? It is actually two separate things. You need to make sure that her name is off the property, as you illuded to, but you refinancing will only take her name off the financing of the property, not the ownership of it.

    If you contact a local title company and speak to an escrow agent they can tell you exactly what the process is.

    As far as the loan, it really doesn't give you any advantage to remove her. It's definitely in HER best interest so she can finance other things and her credit isn't affected if you stop paying (for example).

    HTH,
    Karla in TX
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Aug 3, 2007, 12:41 PM
    A lender is unlikely to issue a loan if title is clouded. If she refuses to adhere to the divorce agreement you have to go back to the court to force it.
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