Question by BlueFlameSix: How do I get my ex-wifes name off my mortgage without refinancing?
I live in PA. My divorce is almost final. I am keeping the property that I live in. It has an extremely low interest rate. I don’t want to refinance if I don’t have to. How can I get her name off the mortgage without going through the added expense?
Best answer:
Answer by jim06744
you don’t need to refinance. lawyer can get the deed changed, so long as she is amenable. not an expensive process
What do you think? Answer below!
You cant get it off w/out refinancing.
They have to Re-record the mortgage note, and title/deed with the court house.
You can use your divorce decree to get a lower rate…by doing a Rate/TERM refinance instead of Refinance Cash out. This would only apply if you were paying out the equity to your wife.
Getting her off the loan papers may be tough without refinancing, however, what you do is have her sign a quit claim deed. Therefore, legally she is off the property her name is still on the loan but with the Quit Claim Deed takes her off the property so you have title to the home. YOur divorce papers etc. should stipulate the home etc as well. Check with your divorce attorney if you had one as well.
You cannot get her name off the Mortgage without refinancing. A mortgage just like any other loan is issued based on both of the applicants data…in order to change the terms of the document you must have a new document drawn up. If she is willing (which I woudn’t be, the home is an asset and being on the mortgage she has a fiduciary claim on the home) she could quit claim her portion of the house to you and then you would own 100% of the home, she would still be legally responsible for the payments but not have any claim to the home.
You could hire a hit man to bump her off or refinance.
You don’t, unfortunately.
If you have been a good customer, it wouldn’t hurt to ask your lender if they will remove her name, but it is highly unlikely.
Why bother? If she ever gives you a hard time, stop paying the mortgage and ruin her credit.
MAKE SURE THOUGH to get her OFF the TITLE tot he house. This is pretty easy.
Your mixing up two different things, I think
There’s who owns the property and who owes for the loan.
You want your ex-wife off the first one, but it doesn’t hurt you if she stays on the second one.
You want to get her off the title for the property, because she doesn’t own it anymore.
As long as her name’s on the mortgage, it means that bank can go after her if you don’t pay. But it doesn’t mean she owns the house. Leaving her name on the mortgage doesn’t hurt you at all, though it is a little risky for her. Having her name there makes the bank feel a little safer, which is why they won’t take it off just because you ask them.
If there’s a way to do this, real estate people will know, not lawyers. Lawyers generally know nothing about financial matters.