I have a friend who seperated from his girlfirend of 8 years. During the time of their relationship. She purchased a house and while he was in the military she refinanced the house and added his name to the mortgage. Now that they have split up he would like to have his name removed from the mortgage so that he is no longer financially responsible. Is this possible? What actions should he take to have this reversed?
2007-12-05 02:52:25 · 4 answers · asked by Cherish 1 in Business & Finance ➔ Renting & Real Estate
While he was away fighting in Iraq she convinced him to do the refi in order to make renovations on the house. He signed and faxed the documents back to the mortgage company. However she spent the money and made no changes to the property.
2007-12-05 06:31:18 · update #1
Is his name on the mortgage or the title. If he was away, how did he sign for the mortgage. It is possible that the mortgage application was made by her, only and his name was added to the title (the document filed with the county which records home ownership. If he is the co-owner (and irrespective if he is on the mortgage) she can file a quitclaim deed. These forms are available from a number of sources on the internet. Just do a search for "quitclaim form". It does require that he sign and have his signature notarized. This would place the home in her name, only, but both would remain on the mortgage. Alternately, if both are on the mortgage, they could go through the quitclaim filing process at closing of the loan and she could apply for a new mortgage in her name, only. Good luck.
2007-12-05 03:03:26 · answer #1 · answered by jwishz 7 · 0⤊ 0⤋
Your friend did not have his name added to the refinanced mortgage without his permission and signature. No lender would do that. If this is what your 'friend' is telling you, he's telling you a bit of a white lie.
Meanwhile, he cannot have his name removed from the mortgage without another refinance in her name only.
If he truly insists that he was put on this mortgage without his agreement, then he needs to pursue lender fraud charges against the lender who did the loan.
2007-12-05 03:01:59 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Unless your friend gave power of attorney to the girlfriend, then I can't see how she could refinance with his name on the mortgage. If she did have power of attorney...then the only way to get him off the mortgage is for the girlfriend to refinance in her name only.
2007-12-05 03:13:41 · answer #3 · answered by LILL 7 · 0⤊ 0⤋
She has to refinance and qualify on her own income and credit.
2007-12-05 02:56:50 · answer #4 · answered by travelinnomad 2 · 0⤊ 0⤋