How do I remove a co borrower from my mortgage?

Refinancing the mortgage is the only way to completely remove a former co-borrower from both the deed and the loan.

How do I get my name off of my ex husband’s mortgage?

There is only one way to have your spouse’s name removed from the mortgage: You will have to apply for a loan to refinance the mortgage, in your name only. After all, the original mortgage was approved in both of your names, giving the lender two sources of repayment.

Can I force my ex to pay half the mortgage?

Your lender has the right to pursue both parties either jointly or individually for payments. Refusing to pay the mortgage will severely impact your ex-partner’s credit file as well as yours. You will both go into arrears, meaning it will be harder for you to secure a mortgage or any other form of credit in the future.

Do mortgage lenders take child maintenance into account?

Some lenders will take into account 100\% of child maintenance. However, some lenders will treat the income as secondary income which means that they would only take 50-60\% of the maintenance payments into account when deciding how much they could lend.

How do I remove my ex husband from my mortgage?

The best way in removing ex-spouse from the mortgage after a divorce is by refinancing the current home loan and get the ex-spouse off the mortgage. If you surrender your property to your ex-spouse, make sure he or she refinances the loan and get your name off the mortgage.

Can a quitclaim deed be used to remove an ex spouse?

When spouses divorce, they must divide their real estate. This is most often accomplished by using a quitclaim deed to remove an ex-spouse from the deed to the property. While signing a quitclaim deed may release your interest in the property to your ex-spouse, it does not release you from your mortgage.

How do I get Out of a mortgage after a divorce?

First, contact your lender to find out if the lender will simply release you from the loan. Provide your lender with the final divorce decree and any related settlement agreement. Also provide the lender with a copy of the quitclaim deed that has already been signed and filed in the land records.

What happens if your ex spouse defaults on a mortgage?

If your ex-spouse defaults on the home loan and the property go into foreclosure, this means you have a foreclosure on your record as well. The best way in removing ex-spouse from the mortgage after a divorce is by refinancing the current home loan and get the ex-spouse off the mortgage.