My divorce decree gave ownership via quick claim deed to her, and states she will pay the mortgage. I am having trouble getting credit because my credit report show the loan in my name.
2006-08-21 06:10:47 · 14 answers · asked by vegaspaulfootball 1 in Business & Finance ➔ Credit
I worked in the mortgage industry. The only way for you to remove your name from the mortgage is for her to refinance. As for having trouble getting credit what you can try is contact the company denying you credit, if it is based on you have to much out standing debt, ask them if you can show them a copy of the divorce decree stating that you are not responsible for the mortgage. Sometimes that helps... at least when applying for a loan we would accept that. But still find out if she is she can or is willing to refinance, that is the only way to remove your name from the mortgage.
2006-08-21 06:20:02 · answer #1 · answered by emmi904 2 · 2⤊ 0⤋
A quit-claim deed just removes your name and any legal ownership you have from the home. She needs to get a new loan in her own name and usually a divorce decree includes that stipulation. There is nothing you can do until she refinances the home as you initially signed responsibility for that mortgage. Check your divorce papers and see if there is a time limit for her to refinance or contact your attorney regarding this. Good luck.
2006-08-21 06:22:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The only way to get your bf's name off the mortgage is to refinance. If she doesn't qualify for refinancing a court can't order the bank to give her money. Your bf will be wasting his time and money to get a court to order her to put the house on the market right now, we are in a terrible market, nothing is selling. He probably should talk to a lawyer to find out if there's anything he can do in the event the house goes into foreclosure since his name is on the mortgage.
2016-03-17 00:41:26 · answer #3 · answered by ? 4 · 0⤊ 0⤋
The only way to remove your name from the mortgage is to have your ex refinance it.
A quit claim only removes you from the title, so you have no ownership over the property.
Hopefully your divorce attorney was sure to require her to refinance the mortgage within a set period of time...if not, good luck. You'll have to convince her to do it.
2006-08-21 06:24:08 · answer #4 · answered by KL 5 · 0⤊ 0⤋
The only way to remove your name from the loan is to have it refinanced without your name on it. Doesn't matter if the courts gave the loan to her, the mortgage company doesn't have to anything about it.
2006-08-21 06:22:29 · answer #5 · answered by bella_4624_19 4 · 1⤊ 0⤋
She actually has to re fiance in her name or you guys sell the home. Quick claim does not do anything with your name on the mortgage. All quick claim does is says it hers when that mortgage is paid off.
2006-08-21 06:20:22 · answer #6 · answered by William M 1 · 1⤊ 0⤋
I don't believe your name can be removed until or unless she remortgages the loan. You may want to go back to court to get them to force her to refinance it in her own name, otherwise if your name is on there and she defaults on the loan, it will screw your credit up as well.
2006-08-21 06:17:34 · answer #7 · answered by baldninja2004 2 · 1⤊ 0⤋
She will have to refinance it in her name. Sorry you didn't think of this before the divorce was finalized.
2006-08-21 07:19:39 · answer #8 · answered by Think.for.your.self 7 · 0⤊ 0⤋
take your divorce papers to your mortgage lender and have them take your name off the mortgage. if not local, write a nice letter explaining the situation and send divorce copy along and mail it registered.
2006-08-21 06:18:45 · answer #9 · answered by slingblade 2 · 0⤊ 2⤋
the only way to remove your name from the mtg is via refi to her name only...the problem with this is that she may not qualify on her own....and the quit claim deed may help but i wouldnt count on it
2006-08-21 06:16:55 · answer #10 · answered by cookiesmom 7 · 1⤊ 0⤋