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dajc23
My Loves :)
Member since 1/09 4980 total posts
Name:
Dana
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Name off mortgage/house?
How does one go about taking their name off a mortgage/house?
A family member was engaged to be married, bought a house with his fiancé then the wedding was called off and she is living in the house. He wants his name off and to move on.
What's the best way of going about this?
TIA!
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Posted 2/25/14 7:05 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Name off mortgage/house?
From what I was told. The person staying in the house would need to refinance in their name only.
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| Posted 2/25/14 7:42 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Name off mortgage/house?
The ex-fiancée has to refinance the property in her name. She will have to go through a mortgage approval and closing--etc.
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| Posted 2/25/14 9:45 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Name off mortgage/house?
The others are correct. The party who wants to stay in/buy the house has to refinance on their name only. The one who wants his name off the deed will have to sign over his rights to the house
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| Posted 2/26/14 9:45 AM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: Name off mortgage/house?
You actually do not have to refi. Your friend can do an assumption of the mortgage. They will reunderwrite the loan to make sure she can qualify on her own but it is far cheaper than a full refi especially if her interest rate is lower than current market rates.
The ex would need to quit claim the house over to her as well.
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| Posted 2/26/14 3:03 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Name off mortgage/house?
My BFF is going through this right now with her ex fiancé. He keeps telling her, he's going to refinance and buy her out. She called Wells Fargo the other day and found out about the assumption program.
This has been going on for TWO YEARS and she wants off the property already so she can buy a home with her new husband.
She's giving him 2 weeks to apply for the assumption program. If he doesn't do it, she has retained an attorney who will sue him to force the sale of the property.
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| Posted 2/26/14 4:02 PM |
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dajc23
My Loves :)
Member since 1/09 4980 total posts
Name:
Dana
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Re: Name off mortgage/house?
Posted by Mill188
My BFF is going through this right now with her ex fiancé. He keeps telling her, he's going to refinance and buy her out. She called Wells Fargo the other day and found out about the assumption program.
This has been going on for TWO YEARS and she wants off the property already so she can buy a home with her new husband.
She's giving him 2 weeks to apply for the assumption program. If he doesn't do it, she has retained an attorney who will sue him to force the sale of the property.
OMG 2 years!
They've already been apart for almost a year so he's had enough and wants to get the ball rolling. I'm going to tell him about this Assumption program
Thank u!
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| Posted 2/26/14 5:30 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Name off mortgage/house?
i had to take someone off the title only and it just cost a few hundred through a lawyer, no biggie.
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| Posted 2/27/14 1:21 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Name off mortgage/house?
Coming off the title (deed) is easy and quick - it's being taken off the mortgage that is difficult.
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| Posted 2/27/14 2:52 PM |
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