We seperated over a year and a half ago. I have been paying the mortgage myself since without a problem. She has told me she will have her name taken off the mortgage but it hasn't happened yet. What should my first step be?
2007-12-04 06:41:08 · 18 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You have to get her to sign a "Quit Claim" Deed and file it with the county. Try going to a Title company in your area. They can help you will all the forms and do the filing for you. It will cost you a couple hundred dollars, but it's cheaper then refinancing and doing it through a refinance.
Hope this helps.
2007-12-04 06:43:41 · answer #1 · answered by E.T. Barton 5 · 3⤊ 1⤋
acermill is right on with the only correct answer, and you can not get out of the mortgage without her, she will always have a claim and the lender will always have the right to go after her if you are late or default. So if you go down it destroys her credit also. Best bet is to refi if you can on paper handle the loan on your own. Unless you want her in your life for the remainder of the mortgage term REFI, I have seen it come back to haunt people years later on both sides, GET HER OFF THE DEED< TITLE AND MORTGAGE> NOW
2007-12-04 06:51:23 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Call her and ask her to do it. Give her a deadline. Be nice.
Do you owe her any equity? Pay her.(If she paid any on the house, or gave any money toward down payment, before you seperated, you probably owe her some money) She may know that. She may want the money or the hold over you.
After the deadline passes, go to the courthouse and get a "quit claim deed".
Take it to her and fill it out, take her to a bank and have it notarized. Take her out to lunch.
Pay to have it registered at the courthouse.
Kiss her goodbye.
If she will not cooperate, take it to a lawyer, and then you will owe her and the lawyer.
Do this ASAP in case you get in an accident or she does. Her heirs may not be as dumb as she is.
2007-12-04 06:49:36 · answer #3 · answered by Lottie W 6 · 1⤊ 1⤋
You have to refinance the mortgage. You will probably have to use a different mortgage company as well. Finance companies hate to let a potential payer off the hook. The actuality is that you can't just remove a person from the mortgage. They have to be bought out.
2007-12-04 06:46:31 · answer #4 · answered by James H 3 · 1⤊ 1⤋
You can gain full ownership by having your ex-friend sign a simple quit claim deed, which will remove her from any ownership interest. However, the mortgage is another scenario. In order for her to have her name off the mortgage, it must be refinanced by YOU. No lender will remove her without a refinance.
2007-12-04 06:45:00 · answer #5 · answered by acermill 7 · 7⤊ 0⤋
Contact the title company and the lender. The title company will provide you with the paperwork you need to remove her from the title.
Then you will have to have the house refinanced if she is still on the loan. Unless she doesn't mind being responsible for the debt on a house she has no title to.
2007-12-04 06:49:18 · answer #6 · answered by Cherry Darling 6 · 0⤊ 0⤋
Contact an Escrow company, or a real estate lawyer.
You will need to have filed with the county the deed is recorded in what is called a "Quitclaim Deed" It is a legal documenting changing the name and title holder of the deed to the property.
She will have to sign away her right to the property.
2007-12-04 06:46:22 · answer #7 · answered by ? 4 · 1⤊ 1⤋
It is not as easy as it sounds. The bottom line is that you both made an agreement witht the lender to pay back the money they lent you. You need to contact the lender and refinance with them, (if you can qualify all on your own), or refinance with another lender...
You must get her off the loan and deed. Contact someone who is reputable and has good rates. Good Luck!
2007-12-04 07:24:41 · answer #8 · answered by Christiane 3 · 0⤊ 0⤋
Real Estate Lawyer
2007-12-04 06:43:34 · answer #9 · answered by lilygateau 4 · 2⤊ 1⤋
As others have indicated, a Quitclaim Deed may do the trick.
2007-12-04 10:26:27 · answer #10 · answered by Adam S 3 · 0⤊ 0⤋