Wednesday, November 23, 2011

How do I remove my name from the mortgage?

My x and I split up a year ago, I moved out and my x stayed in the house. I've left my name on the mortgage (we weren't married so the house is the only thing legally binding us), but now I'd like to take it off. How does that work? Is it expensive? How long does it take? Our mortgage is through countrywide. How do I remove my name from the mortgage?
The only way is for your ex to refinance by himself, hopefully number one there is sufficient equity in the place to refinance and number two hopefully your ex has the right credit score to refinance if the answer is no toward anyone one of the conditions then only option is to sell the home if possible How do I remove my name from the mortgage?
You can remove your name on the Title of the property if you choose, by quit-claiming the deed to your x-husband. You still are responsible for the mortgage though and your name cannot be removed unless you either refinance using a different name or have your x-husband refinance only in his name.
If your x is still living at the property you will both need to hire a solicitor to arrange for your removal...this is done either by your x re-mortgaging the property in their sole name or asking permission from the bank/building society if you can be removed.





Call a solicitor and ask them how this is done. it doesn't cost must
Personally I would make him sell the house and give me my half and then he can do whatever he wants with his. If he gets ugly and stops paying or keeps paying late it is affecting your score also so I wouldnt even have let it go this long.
You cannot remove your name from the mortgage unless you pay it off. They need to refinance the property in their name only, then you will do a quitclaim deed to also remove your name from the title to the home.

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