Husband & I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

My husband and I are divorced and now he is moving out and told me that I could continure living in the house til I decide that I want to sell it. Is there a way to legally take over the loan without my name being on it without refinancing due to bad credit? AND if not and i continue to live here til we sell it, is there a good contract for us to go by as where is not allowed to stop by, make changes, sell out from underneath me? I dont want to see him ever here unless I invite him and I need to know will that contract hold any ground by us creating it between us and just having it noterized. I do trust him, its whomever he gets with that I do not trust to change his mind about being so nice to me.

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

he can't sell the house without your permission, since you are on the deed. You would need to ask the load company, but I don't think they can take him off the loan unless you refinance, pay off the loan, and start a new one in your name.

You do need to see a lawyer however, asap.

good luck to you.

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

Doubtful. I would suggest refinancing just in case he turns on you.

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

Hes letting you keep the house? Thats noble. Most couples who divorce sell the house and split the money. I would get your attorney to draw up an agreement for him to sign that would cover all the necessary points. It protects both of you, not just you. Since both names are on the house, I believe he has to sign off on the house to be taken off the loan. I don't know what state your in but you might consider a quick claim deed and possibly protect your self by homesteading the

house. Again, check with your attorney regarding the process in your state.

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

Yes and get him to sign off on the sale now so you don't have to track him down if and when you do decide to sell it! been there! ugly times! Attorney is helpful! Good luck

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

Since you are both on the deed, you both own the house. He only gets removed from the deed by quit claim or by the house being sold. Since you are both on the mortgage, you are both obligated to pay the debt on the house. He will remain obligated until you refinance the house.

If he has enough cash to pay you his half of the equity of the house (house is worth 300k but you owe only 200k he would pay you half of the remaining 100k) and that gives you enough of a new down payment on the new loan with your bad credit, then you can refinance and he can quit claim the house to you. Otherwise work on your credit until you are %26quot;mortgageable%26quot;.

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

I swear no one ever reads questions around here.

You are not on the deed or the loan...but that doesn't mean that you don't have rights when it comes to selling the house. In some states you are kind of like on the deed but invisibly. It is called Dowers Rights. Other states are equal states, meaning that if you bought the house once you were married you have rights to it.

Now, I would definitely tell you to take the payment to or mail the payment yourself. Do not send it to your ex. If just one month he/the new girl decide not to send it in, your talking foreclosure. Although I doubt that your soon to be ex would want that on his credit report.

I doubt you could get the loan refi'd in your name if you don't have good credit.

I would definitely sign something stating that you are allowed to live there until the BOTH of you decide to sell the house. But you have to both be in agreement.

Husband %26amp; I Divorced, His name on loan/Both On Deed. Can I take over loan without refinancing?

Just curious, What does your separation agreement filed with your divorce decree say about division of property?