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How do you get your ex-spouse off the mortgage agreement without spending a lot of money?
You will have to refinance your loan in order to get his name off. The loan now has both of your names on it because you both appied at the same time. This mortgage has to be paid off in order to remove the ex-spouse. That means you will have to apply for a new mortgage in your name only.
What else can I help you with?
What are the benefits of shared ownership in a mortgage agreement?
Shared ownership in a mortgage agreement can provide benefits such as lower monthly payments, shared responsibility for maintenance costs, and the opportunity to build equity in a property without bearing the full financial burden alone.
Can you pay off an ARM mortgage early?
Yes, you can pay off an adjustable-rate mortgage (ARM) early without incurring a prepayment penalty, but it's important to check your loan agreement for specific terms and conditions.
What paper work do you do when a person wants to have another person take over payments on her house and transfer the title until its paid for?
You will need to make contact with the mortgage holder (people that loaned money to buy the house) and get their approval. Until the loan is paid off, the mortgage agreement is between the homeowner and the mortgage holder. That agreement cannot be changed without their approval, or a court order (such as bankruptcy) or the death of the borrower. In effect, you would transferring your mortgage to the other person- and that person might not be acceptable to the mortgage company.
Can you refinance a first mortgage without paying off an existing home equity line of credit?
Typically you can refinance the a Primary Mortgage without refinancing the second line of credit or equity loan. It will require a subordinaion agreement by the lien holder of the line of credit. They will require several documents from new Primary Mortgage Holder to be. They will need things like a copy of the appraisal, application for the loan etc... They will most likely require a payment to process the agreement usually around 100-200 dollars. The subordination agreement usually takes about 2 weeks to complete with most lenders. Loan to Value will be a concern for this.
How do you remove the co signer on the mortgage?
The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.
What are the benefits of shared ownership in a mortgage agreement?
Shared ownership in a mortgage agreement can provide benefits such as lower monthly payments, shared responsibility for maintenance costs, and the opportunity to build equity in a property without bearing the full financial burden alone.
You are separated can you change the locks on your home doors?
If you are on the rental agreement, mortgage, or lease agreement and you are the one staying in the house, yes.
How much will it cost you to remove spouse from mortgage?
A quit claim deed will be rather inexpensive. However, the spouse can require payment to sign the agreement. You cannot remove them without their agreement and consent.Another PerspectiveA quitclaim deed will transfer the interest of the spouse in the property but will have no effect on the grantor's responsibility to the lender or the mortgage. Generally, the mortgage must be paid and refinanced in order to remove a spouse from any responsibility for paying the mortgage.
How do you remove someone as a co-borrower on a mortgage?
Refinance the lending agreement without the person's being a participant.
Can you pay off an ARM mortgage early?
Yes, you can pay off an adjustable-rate mortgage (ARM) early without incurring a prepayment penalty, but it's important to check your loan agreement for specific terms and conditions.
What paper work do you do when a person wants to have another person take over payments on her house and transfer the title until its paid for?
You will need to make contact with the mortgage holder (people that loaned money to buy the house) and get their approval. Until the loan is paid off, the mortgage agreement is between the homeowner and the mortgage holder. That agreement cannot be changed without their approval, or a court order (such as bankruptcy) or the death of the borrower. In effect, you would transferring your mortgage to the other person- and that person might not be acceptable to the mortgage company.
Can you get a second mortgage with only one signer?
You need to go and see a mortgage broker. However if there is already a mortgage on the house with two signatories, it is unlikely that you will be able to get a second mortgage without the agreement of the second signatory as it will affect their primary mortgage. It will also depend on the property deed. If the land is titled to a single person, that person can obtain a mortgage. Note that a spouse is considered to be on the title even if it isn't printed there in most jurisdictions.
Can you refinance a first mortgage without paying off an existing home equity line of credit?
Typically you can refinance the a Primary Mortgage without refinancing the second line of credit or equity loan. It will require a subordinaion agreement by the lien holder of the line of credit. They will require several documents from new Primary Mortgage Holder to be. They will need things like a copy of the appraisal, application for the loan etc... They will most likely require a payment to process the agreement usually around 100-200 dollars. The subordination agreement usually takes about 2 weeks to complete with most lenders. Loan to Value will be a concern for this.
If you have been been discharged of All Debt without payment can a bank foreclose on your home?
If the home was part of the bankruptcy - possibly. It all depends on what the wording of the mortgage agreement may be.
How do you remove the co signer on the mortgage?
The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.
What is expandable mortgage?
An expandable mortgage is a Mortgage allowing the borrower to borrow more money without rewriting the initial mortgage.
Can your name be taken off mortgage without a signature?
Your name cannot be taken off a mortgage because the mortgage is owned by the lender. You remain responsible for the mortgage until it is paid off or refinanced without you.
