If you are divorced or have a diverse, you may require removing your spouse’s name from the mortgage as it is necessary because if you take any loan on the property, you have to make sure that your ex is not receiving any installments. Apart from this, you also have to decide whether you guys need to keep the house or want to pay money to the other spouse. Besides this, it is also necessary to inherit your property or to sell it.
No matter for what purpose you are removing your spouse’s name from the mortgage, you have to follow a specific process for the purpose. It is necessary to prevent your ex and mortgage lender or buyer from getting into any e-court cases. Have a look at the necessary steps to remove your spouse from the mortgage legally and efficiently.
How To Remove Spouse Name From Mortgage?
The only way through which you could remove the name of your access from the united mortgage of both is by taking a loan in your name. And this process, you have to apply only your name into the loan refinance. If you don’t do this, then your ex is also claimed to repay the loan to the lender. That is illegal and could lead you to court cases and subject to attempt cheating. If you don’t add only your name to loan repaying, then the lender can still come to your spouse.
Fill A Quitclaim Deed
After you have taken divorce and approved your refinance, you must have your spouse’s name removed from the deed and the mortgage. This process is done by filling a quitclaim deed in which the spouse who shared property with you gives up any right onto the property. Once all these activities are done, your spouse needs to sign the refinance document in front of the lender and the loan management lawyer. It ensures that your spouse will not be going to interfere in any deals or debt of the property.
This is the final process of removing your spouse’s name from the property that you both shared. But remember, only after filling the refinance and securing it in your name must you go for the process. Before securing the refinance, you could get into some issues that could take long and long to be solved. That’s why you should always remember taking care of your v finance and securing it for the house in your name.
Get Professional Help
Removing the name of your spouse from another mortgage could be complicating and problematic. Therefore always go for professional help from a divorce expert lawyer. In such a case, you will be tension-free about the process and get the entire task done easily and properly. Whereas, if you think of doing it yourself, you could get into many problems and issues that could make your work more troubling. Any experience at all in any of the fields can easily help you from removing the spouse’s name.