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    mebell25's Avatar
    mebell25 Posts: 1, Reputation: 1
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    #1

    Sep 26, 2007, 05:43 AM
    Removing a nane from a mortgage
    Hi Everyone

    I need to know how easy it is to remove my ex partners name from our mortgage.

    We bought the house about 3 months ago and have recently decided to split up. He is quite happy to sign the house over to me but I don't know how to go about it or even if it can be done?

    Will the mortgage company allow this to happen as I don't think I could remortgage on my own?

    I will greatly appreciate any advise you guys can offer me.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Sep 26, 2007, 05:58 AM
    You will have to refinance the home in your name only to remove the other persons name.
    That is the only way to get it off the mortgage. This is the big issue in divorce cases because the other party not living in the home is still liable for the mortgage payments if the one living in the home does not get a new mortgage.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Sep 26, 2007, 06:31 AM
    Look at it from the mortgage holder's point of view. Its better to have two people on the hook for the loan rather than one. So they have no inclination to let him off the hook. So, as Chuck said, you will need to refinance. At the closing, he will need to sign a quitclaim deed deeding the property to you
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