Starting Over
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Refinancing After Divorce
I posted this on the Home Buying Board, but they suggested I try over here too.
About 3 years ago I went through a divorce, we had bought a house together. In the divorce decree I was awarded the house. The deed was correctly changed into my name, and I have made all the payments since then.
I am getting remarried in June this year (yay!), and my new husband and I want to refiance the house in our names.
I did not refinance after the divorce. It wasn't a part of the decree. So, my ex's name is still on the mortgage (not the deed- just the mortgage). My question is- will my new husband and I have problems trying to refinance the house in our names if my ex's name is still on the current mortgage?
Thanks for your help!
Re: Refinancing After Divorce
I am sorry, I don't have an answer to your questions.
If you don't mind me being curious, why don't you want the house/mortgage to remain in your name only to ensure it always stays with you in case anything happens?
I have no idea - you'll have to call your lender. They are all so different in how they handle refinances due to divorce.
I'm amazed that your XH didn't require you to refinance. He has no claim to the property, but if you stop paying the mortgage, his credit is still affected.
So you're not going to add your new husband's name to the deed? Then why add him to the mortgage? He knows the implications of that, right? He gets the debt but no claim to the property.
No you wont have any problems as long as you and H profiles are good and can qualify for the loan. The lender will only care that a quit claim was filed and your exhusband was removed from the deed.
However they will take issue with your new H being obligated to repay the loan but not listed on the deed. Fairly certain they will not let that fly.
You have the right to remain silent. Anything you say will be misquoted and used against you. My Blog
I would think no but I am speaking from my experience. EXH got the house in our divorce and the decree was enough for him to pursue the refinance on his own and get me off the house title and loan.
I didnt have to supply anything......good luck!
XH and I are trying to go the assumption route. It has taken longer than we had planned. If he cannot get the house in his name, we have to rent it out until we can sell. I am NOT willing to take my name off the deed if my name is still on the mortgage- I will still legally be responsible for the mortgage if he does not pay and my credit will be affected.
I think it's a little odd to put your new H's name on the mortgage but not the deed.
And I believe that you should be able to refi or assume in your name without XH because of the divorce decree, but our mortgage lender required a letter from me as well saying that I agreed to the process and was requesting a formal release of liability in addition to the divorce decree.