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Property/Ownership

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blondespitfireg

Junior Member
What is the name of your state (only U.S. law)? Wisconsine
My husband and I have file for divorce. We own a home together and I have moved out. He wants to refinance at a much lower rate but he says the finance company won't do it unless my name is off the house, he wants me to sign off. We have not even had our first court date yet. Should I sign off or wait and see what the judge says?
 


LdiJ

Senior Member
What is the name of your state (only U.S. law)? Wisconsine
My husband and I have file for divorce. We own a home together and I have moved out. He wants to refinance at a much lower rate but he says the finance company won't do it unless my name is off the house, he wants me to sign off. We have not even had our first court date yet. Should I sign off or wait and see what the judge says?
He may be telling the truth. Its possible that they will not approve a mortgage unless all owners are responsible for the loan.

If you agree to this, you need a valid appraisal showing the true fair market value of the home, and you should not sign a quit claim deed unless its at closing, and you will be receiving your 1/2 of the equity in the home at closing.

You could also agree to exchange your 1/2 of the equity in the home for other marital assets, but you would either need to be certain to get those assets into your name prior to signing the quit claim deed, or you would need a valid and enforceable agreement.
 

mistoffolees

Senior Member
I would tell her not to sign off until the divorce is final and property division is complete.
I agree. That gives him an incentive not to drag things out.

Furthermore, I don't think anyone expects that interest rates are going to be significantly higher in a few months, so he's probably not missing any great opportunity.
 

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