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removing a name from a title

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SKM0809

Guest
i live in a home with my fiance.we purchased our home 3 years ago. we both agreed for legal/personal reasons it would be best if we took his name off the title and the bank loan (home equity installment loan). how is the best way to go about this?
 


HomeGuru

Senior Member
SKM0809 said:
i live in a home with my fiance.we purchased our home 3 years ago. we both agreed for legal/personal reasons it would be best if we took his name off the title and the bank loan (home equity installment loan). how is the best way to go about this?
**A: simple, you refinance the mortgage loan such that title and the new loan is soley in your name.
 
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SKM0809

Guest
not so. if you refi and there are two names on the actual title then the partner/spouse/joint owner MUST sign the mortgage for the new loan even if they are not to be on it. i want to remove someone from the title of the house.
 

HomeGuru

Senior Member
SKM0809 said:
not so. if you refi and there are two names on the actual title then the partner/spouse/joint owner MUST sign the mortgage for the new loan even if they are not to be on it. i want to remove someone from the title of the house.
**A: well, you are absolutely correct because in your case your insignificant other was 16 and had 4 underage drinking fines and at 17 another underage drinking fine plus a DUI. Due to his underage drinking and having no driver's license, the mortgage company would require him to sign for the new loan and be responsible for the payments for 30 years. So since he is almost 30 years old now, he just has another 30 more to go. I totally forgot about this new law called the HUD DUD DUI No Refi Act of 2002. Thank you for reminding me.
By the way, this Act is unenforceable in the State of PA. But I'm sure you are not from PA since you always follow posting instructions.
 
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SKM0809

Guest
you are missing the point! we already did the mortgage 3 years ago. i recently refinanced. his name is now on the new installment loan . there was no problems with refing. i simply want to get his name off of the house(title) i think i can go to a laywer and draw up a new title in which he can sign over his rights to me. that is what i was questioning. is there some type of procedure for thid matter?
 

HomeGuru

Senior Member
SKM0809 said:
you are missing the point! we already did the mortgage 3 years ago. i recently refinanced. his name is now on the new installment loan . there was no problems with refing. i simply want to get his name off of the house(title) i think i can go to a laywer and draw up a new title in which he can sign over his rights to me. that is what i was questioning. is there some type of procedure for thid matter?
**A: yes, there is some type of procedure for this matter. But let me first ask you why do you think that your partner would sign a deed transfering title to you and still be liable for the mortgage? He is already upset that he has no drivers license.
 

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