[peacheyqueenbee]

I am current getting divorced from my wife. We both own a home together. She is moving away and has no interest in the house, however, she wants her name taken off the mortgage and deed. The problem I am running in to is I am trying to refinance in order to get her name taken off, however we filed for bankruptcy one year ago and many banks have turned me down for refinancing at this time. Any suggestions on anything else that can be done to have her name removed?

[stevetcg]

Have you spoken with your mortgage holder about removing her name? I have heard that some will, in the case of divorce, particulalry if the spouses income was not a determining factor in getting the mortgage originally.

Other than that, I don't know if you have much other option.

[flashsbaby]

Perhaps you can have her sign a quick claim deed taking her name off

[stevetcg]

perhaps you can have her sign a quick claim deed taking her name off

That doesn't affect the mortgage. THe mortgage and deed have little to do with each other.

[cdad]

That doesnt affect the mortgage. THe mortgage and deed have little to do with each other.

I hate to disagree. But the 2 are tied together. The deed will list instructions for the mortgage holder so if anything else goes on the deed they can be notified. Also normally the note holder is also on the mortgage just like they appear on a car title.


When you sign loan documents you sign as when your posting the deed. i.e. single man or joint tennet etc.

[stevetcg]

I hate to disagree. But the 2 are tied together. The deed will list instructions for the mortgage holder so if anything else goes on the deed they can be notified. Also normally the note holder is also on the mortgage just like they appear on a car title.


When you sign loan documents you sign as when your posting the deed. i.e. single man or joint tennet etc.

Sure, but what I mean is that removing a name from a deed does not necessarily mean it has been removed from the mortgage, just like adding a name to a deed does not add it to the mortgage.

[cdad]

Sure, but what I mean is that removing a name from a deed does not necessarily mean it has been removed from the mortgage, just like adding a name to a deed does not add it to the mortgage.

That's true. Maybe I misread it.. sorry.

[rockmanlinux]

Sign the quite claim deed. Then talk to your loan holder about a load assumption program. You will pay some costs but essentially it just takes the other person off the home. All done. I'm in this process now. I know GMAC (Homecomings) and whoever bought country-wide (can't remember right now) both have this plan due to houses not appraising for their full value anymore.