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entrapment
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| My boyfriend and I bought a house together. We broke up almost a year ago and both are still living in the house. Every weekend I go back to my home town, in another state. He would like the house but cannot afford it himself and his credit is not good. I want to move back to be near mt family. He will not talk about his option of refinancing or sign off on selling the house, so I am trapped. What are my options. I want my name off of the deed so I can assume my life. Please help me. |
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savior70
Joined: 25 Mar 2009
Posts: 1338
Location: Florida
152.59 Dollars($)
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Hi
Are you on the title, as well as on the loan? You can take yourself off the title by simply signing a deed and releasing your claim in the property. But taking your name off the loan will not be that easy. You will either have to pay off the loan in full or have your boyfriend refinance the loan in his name. You can also file a partition lawsuit in court to enforce a forced sale of the house. |
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blahblah123
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Post subject: divorce |
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| Can you tell me if there is any way to get my ex husband's name off of my mortgage? I was awarded the home in the divorce, and make all payments. He has also filed bankruptcy following the divorce. Is there anything I can do besides refinance? I owe more than the house is worth, and can't refi. |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 1754
Location: MICHIGAN
260.24 Dollars($)
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Hi Guest,
A refinance would have been the best way to remove your ex-husband from the loan. But this can also be done through a novation agreement. But your lender's approval is required for the novation to go through.
Thanks,
Jerry |
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victor
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Post subject: title change |
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| hi there im lost and dont know what to do! i transfered the title to my mothers home to my name and now what im trying to do is have the loan be under my name and remove my mom from the loan, loan is through bank of america, what can i do if any one can help that would be helpful. also do i have to refiance? |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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victor
Welcoem tot eh forum
Since your name is not on the loan, I am not sure refinancing is an option. if you want to do ti alone
See if your can refinance and add you to the laon
or look at the option of Novation
Good luck and feel free to ask |
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unbearable
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Post subject: quit claim and simple assumption |
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| my ex and i broke up 2 yrs ago, i have been making all of the mortgage pymts myself. we are both on the deed and mortgage with myself as the primary. i want him off the house, but still be held responsible for the loans, and not have any access to the mortgages (ie... insurance, escrow funds, change of address) that could damage me or my credit. he's agreed to the q-c, but what can i do to still hold him financially responsible? i intend on suing him for the money he owes me. both mrtgs are int. only |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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unbearable
Welcoem o the forum
Once you get a quite claim deed from him, he longer has legal ownership on the house, but he will still be responsible for loan. He will not be able to make any changes on the loan. you need to make sure to notify the bank about the changes
Good luck and feel free to ask |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7129
Location: bloomfield, ct
18.93 Dollars($)
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if "he" has legal representation and if either of the two of them have any sense, they will fight tooth and nail to prevent you from continuing to hold him responsible once he quit claims to you, unbearable. i sure hope the name you chose doesn't have anything to do with your relationship.
what you're seeking to do is extremely one-sided.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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help
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Post subject: Simple Assumption Loan |
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| If I paid the Simple Assumption Loan in full, do I still have to fill all the paper work? |
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Help
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Post subject: Simple Assumption Loan |
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Victor:
Bank of America has me sending the same paper over and over, they are not very helpful. You would think that they don't want there money. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7129
Location: bloomfield, ct
18.93 Dollars($)
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those last two posts are not particuarly clear - if either of you can elaborate on what it is you're talking about, i'm sure we can provide at least some sort of answers.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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jbrierra34
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Post subject: Assuming my family home |
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My mother has requested that my family and I return to my home and assume the remainder of the mortgage. She is no longer able to maintain the notes, since my father has passed. Do I have to go through her mortgage company or can I just make the payments and she then sign the house over to me?
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
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savior70
Joined: 25 Mar 2009
Posts: 1338
Location: Florida
152.59 Dollars($)
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Hi
You can just keep making the payments and then have her sign over the house to you. The mortgage company does not mind who has been paying the mortgage. They are quite happy if the payments are made on time. But if you do not officially take over the mortgage, your credit score will not improve due to the payments you'll be making. If you want to improve your credit by making the mortgage payments, you'll have to either refinance or assume the loan. |
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Don Troendly
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Post subject: Simple asumption |
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| I adde my oldest so to my loan in case of my death he could retain my good interest rate. It cost me 100.00 to do so. He did not sign any of the oringal loan docs. Is he liable I was the only person to sign on the loan. |
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