names on mortgage loan

I bought my home with my, now, ex-wife several years ago. When the divorced was settled, she signed the title and deed over to me and I just owed half of the down payment to her. Now I would like to remove her name from the loan. Is there any way to remove her name without refinancing? If so, how? If not, I would presume that I would have to refinance. Will that be a complicated process when the bank finds out that the title and deed are now in only my name? I have all the paper work and I would like to know what my options are to get her name off the mortgage since she has not resided in the house now for several years nor has made any payments?

I have asked the same questions to a mortgage loan officer, but I would like to know what, if at all, does the law require?

Thank you in advance for any insight.

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by millan:

I bought my home with my, now, ex-wife several years ago. When the divorced was settled, she signed the title and deed over to me and I just owed half of the down payment to her. Now I would like to remove her name from the loan. Is there any way to remove her name without refinancing? If so, how? If not, I would presume that I would have to refinance. Will that be a complicated process when the bank finds out that the title and deed are now in only my name? I have all the paper work and I would like to know what my options are to get her name off the mortgage since she has not resided in the house now for several years nor has made any payments?

I have asked the same questions to a mortgage loan officer, but I would like to know what, if at all, does the law require?

Thank you in advance for any insight.

<HR></BLOCKQUOTE>

Refinance the loan and take her name off the mortgage.

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by HomeGuru:
Refinance the loan and take her name off the mortgage.<HR></BLOCKQUOTE>

HomeGuru
Does the mortgage company send her portion of the down payment or can I roll it over into the new loan and pay her out of my pocket?
Also, I have received an overage check from the mortgage company. Both our names are on it. Do I need her signature in order for me to deposit the check? Or can one signature take care of that? She moved away 4 years ago and I have no idea where she is.

Thank you again.

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by millan:
HomeGuru
Does the mortgage company send her portion of the down payment or can I roll it over into the new loan and pay her out of my pocket?
Also, I have received an overage check from the mortgage company. Both our names are on it. Do I need her signature in order for me to deposit the check? Or can one signature take care of that? She moved away 4 years ago and I have no idea where she is.

Thank you again.

<HR></BLOCKQUOTE>

What portion of the downpayment? We are not talking about downpayment. If the mortgage loan amount is $50K, then you refinance that amount plus loan application fee, closing costs, loan points, appraisal fee etc. There is no money coming out during this type of refinance.
If the check is payable jointly, you can not cash it without her signature.