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Can someone get there name taken off a mortgage due to break up?
No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.
How can I get a loan for a home since my name is on the mortgage of the ex husbands house and in the divorce he is responsible to pay for it?
Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.
What should one know before they refinance a home?
Before a homeowner refinances a home, they should consider how much less a mortgage payment will be after a refinance. They should also consider the differences between a fixed rate mortgage and an ARM mortgage rate. These factors can dictate how long it will take to repay a mortgage.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
When should you get preapproved for a mortgage?
You should get preapproved for a mortgage before you start looking for a home. This will help you understand how much you can afford and make your offer more competitive.
Can someone get there name taken off a mortgage due to break up?
No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.No. The mortgage must be refinanced in exchange for a deed of the other owner's interest. You each should consult with an attorney and draft an agreement.
Does a quick claim deed take your name off the mortgage?
No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.
How much does it cost to come out of a legally binding joint mortgage if an ex is buying you out?
You cannot "get out of" a mortgage. The mortgage must be paid off and refinanced in the name of the new single owner. That issue should be addressed in every divorce agreement.
How do you convert a variable interest rate to fixed?
If you want a variable interest rate to fixed, refinancing your home would be the way you can accomplish this. Variable rate also known as an adjustable rate mortgage should be refinanced before your interest rate adjust.
Do you need to refinance your house if your ex husband signed a quit claim deed as part of a divorce agreement?
AnswerYou need to review the term of your divorce agreement. It may require that you refinance.Property that was once marital property and that is being transferred from one former spouse to the other pursuant to a separation agreement should always be refinanced by the receiving party. Otherwise, even if they have conveyed their interest, the ex-spouse remains responsible for paying the mortgage. If it goes into default his credit will be ruined.Your ex-husband should have insisted that the property be refinanced in consideration of his transferring his interest to you. The only way for him to be released from the mortgage obligation is for the mortgage to be paid off and then refinanced.
How can I get a loan for a home since my name is on the mortgage of the ex husbands house and in the divorce he is responsible to pay for it?
Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.
How do you divorce your husband and legally transfer your interest in the marital home to him?
Before the divorce? Not sure that you can if both names are on the deed/lease. Unless you can get a restraining order of some type. If your name is the only one on the deed or lease you would have to serve him an eviction notice.
Should you sign a deed in lieu of foreclosure if your husband is the only one whoe signed the mortgage note and you live in a community state property?
You should consult with an attorney before you sign anything. The bank needs your signature to complete the foreclosure but you should have the mortgage reviewed before you sign.You should consult with an attorney before you sign anything. The bank needs your signature to complete the foreclosure but you should have the mortgage reviewed before you sign.You should consult with an attorney before you sign anything. The bank needs your signature to complete the foreclosure but you should have the mortgage reviewed before you sign.You should consult with an attorney before you sign anything. The bank needs your signature to complete the foreclosure but you should have the mortgage reviewed before you sign.
What should one know before they refinance a home?
Before a homeowner refinances a home, they should consider how much less a mortgage payment will be after a refinance. They should also consider the differences between a fixed rate mortgage and an ARM mortgage rate. These factors can dictate how long it will take to repay a mortgage.
Taking Advantage of Refinance Mortgage Companies?
With interest rates as low as they are, now may be an excellent time to refinance your mortgage. While many mortgage lenders have tightened their underwriting standards, there are still many refinance mortgage companies that are willing to give out a refinance mortgage. To get your mortgage refinance through one of these companies, there are various underwriting criteria that should be met. The first piece of underwriting criteria that should be met in order to have your mortgage refinanced is to have a good credit score. While in years past many mortgage refinance companies were willing to refinance a mortgage for anyone with a credit score over 620, the high rate of default for people with bad credit has tightened their underwriting. Today, getting a better interest rate from one of these refinance companies will require you to have a credit score of 740 or better. However, those with scores between 680 and 740 could still be approved for a mortgage refinance, but they will pay a higher rate. The second piece underwriting criteria that should be met in order to have your mortgage refinanced is to have a sizable down payment. When underwriting standards were looser, many borrowers were able to get mortgage loans with as little as 0% down. Today, mortgage refinance companies will require at least 10% equity in the home. Since housing prices have fallen across the country, you may have a hard time getting a mortgage refinanced even if you used to have equity in your home. To get approved for the refinance, you may need to put forth another down payment. The third piece underwriting criteria that should be met in order to have your mortgage refinanced is to have a low debt to income ratio. A debt to income ratio is a measurement of your monthly housing debt divided by you monthly gross income. In years past, a person could be approved for a mortgage if their debt to income ratio was less than 40%. Due to the tightened underwriting standards, the debt to income ratio requirement has dropped to around 30% for most lenders. This may require you to purchase a cheaper home.
Is it required to remove the grantor in a quit claim deed from the mortgage loan?
If you already had one owner transfer their interest by a deed, they are still responsible for paying the mortgage. If you read through your mortgage documents you should review the Due on Transfer clause.If you want to change the ownership of the property the loan must be paid off and refinanced in the name of the new owner. If you transfer ownership without notifying the bank, it can demand payment in full immediately as soon as it discovers that transfer. Also, until the loan is refinanced in the name of the new sole owner all the parties who granted it will remain responsible for payment. You should consult with your lender if you want to make a change in ownership and the deed of transfer should always be drafted by a professional.If you already had one owner transfer their interest by a deed, they are still responsible for paying the mortgage. If you read through your mortgage documents you should review the Due on Transfer clause.If you want to change the ownership of the property the loan must be paid off and refinanced in the name of the new owner. If you transfer ownership without notifying the bank, it can demand payment in full immediately as soon as it discovers that transfer. Also, until the loan is refinanced in the name of the new sole owner all the parties who granted it will remain responsible for payment. You should consult with your lender if you want to make a change in ownership and the deed of transfer should always be drafted by a professional.If you already had one owner transfer their interest by a deed, they are still responsible for paying the mortgage. If you read through your mortgage documents you should review the Due on Transfer clause.If you want to change the ownership of the property the loan must be paid off and refinanced in the name of the new owner. If you transfer ownership without notifying the bank, it can demand payment in full immediately as soon as it discovers that transfer. Also, until the loan is refinanced in the name of the new sole owner all the parties who granted it will remain responsible for payment. You should consult with your lender if you want to make a change in ownership and the deed of transfer should always be drafted by a professional.If you already had one owner transfer their interest by a deed, they are still responsible for paying the mortgage. If you read through your mortgage documents you should review the Due on Transfer clause.If you want to change the ownership of the property the loan must be paid off and refinanced in the name of the new owner. If you transfer ownership without notifying the bank, it can demand payment in full immediately as soon as it discovers that transfer. Also, until the loan is refinanced in the name of the new sole owner all the parties who granted it will remain responsible for payment. You should consult with your lender if you want to make a change in ownership and the deed of transfer should always be drafted by a professional.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
