Trying to buy House, But have BIG PROBLEM

[ELVIS]

seb i just did this and thought that the special warrenty deed would do jsut what you needed. we signed one for the old house in Nov. when all was final, and i bought a new house in March. its sucks but it may be worth paying a lawyer to figure it out. seems like it would be fairly quick and pain free.

god bless.

You can do all kinds of legal maneuvers and at the end of the day, if her name is on the note, that is all that matters in the banks eye. AdamLX posted the only concrete solutions. Went through this after my divorce when my exes vehicle payments started going late. Even though it was given to her in the divorce, I was still liable. Luckily it was resolved quickly.

[AdamLX]

If they are both on the note there just a few options.

Sell it.
Refinance only in his name.
Try for an assumption into his name if it's eligible.

Before he could provide 12 months cancelled check posting out of his own account in his name only to show continuity of obligation, but now that doesn't really fly anymore if she's co-signed.

[inline 6]

I believe the from you need her and the ex to sign is called a "quick claim" and it absolves her of any responsibility on the home even though she remains on the note.

[SEB]

I signed a document basically saying that my ex is no longer financially liable for the house we bought together. Her attorney drew it up. For whatever reason, this was enough for her new lender to allow her to buy a new house.

That said, in the bank's eyes, the piece of paper I signed isn't worth shit and I have no authority to make such a decision. If I were to default on my loan, she would be as responsible as I am for it financially.

See this is the problem we are trying to avoid. If something happens to her ex and die's and we do get approved for another house with out doing this leg work then we are up SHIT CREEK

I think if you get divorced who ever gets this house should be forced to get their own financing and if they can not do that they should be forced to sell the house or car

[bcoop]

I signed a document basically saying that my ex is no longer financially liable for the house we bought together. Her attorney drew it up. For whatever reason, this was enough for her new lender to allow her to buy a new house.

That said, in the bank's eyes, the piece of paper I signed isn't worth shit and I have no authority to make such a decision. If I were to default on my loan, she would be as responsible as I am for it financially.

[SEB]

Well she is still on the loan of her Ex Husbands house and they have been divorced for over 7 years and now when she applys for a loan. It shows up on her credit that she is still on the note. We already did the special Warranty Deed. But long and short she cant get her name off this note and not sure what we need to do to get her name off those note. I know this has to be a common problem and not sure why we keep hitting road blocks with getting this taken care of. Just makes no sense cause I know people get divorced every day and seems pretty shitty that you can't move on with your life even after your divorced. I know by the state your divorced legally in the states eyes. But when it comes to anything you bought together your still liable for that note and it works against you if the person doesnt want to deal with getting the note financed in their name. Compete BS!

Please tell me someone on here has been down this road. Currently there is a lean on the house that she is on. Hence why her ex husband cant get financed in his name.