Quit-Claim deed?

[CaliMommie]

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[cristeen]

I see you're in CA. You could *try* to get the lender to agree to an assumption, but most loans are written to specifically not allow assumptions. This is where your Ex takes over the loan from you, but your ex would have to sign for it, and they wouldn't do it if you're behind in payments. So essentially, you cannot get your name off of the mortgage without him refinancing. You can get your name off the property so that he can sell it, and so that the city/county can't come after you for tax arrearages, but not the mortgage. He doesn't even have to be involved in getting your name off the property. Although if he didn't make the Dec 10 payment of first installment taxes, then you're already on the hook for that. But if you get it on record prior to 2nd installment, you will not be on the hook for it.

If your name is on the mortgage, then you are responsible for any arrearages, and if it forecloses, that shows up on your credit as well as his. The lender does not care which of you has possession, they only care who originally signed the paperwork.


I know it sucks, but at this point, I'd see about renting the place out so that you can keep up with the mortgage.

[CaliMommie]

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[cristeen]

If the lender is saying yes, go for it. But talk to the lender yourself. There is usually an "Assumption Department", if you call customer service, ask for that department first. They should be able to look up your specific loan and see if it is eligible. If they say yes, ask them what is required, and how long it'll take. I wouldn't leave it up to your Ex to get the ball rolling on that.

The process is not free. At the very least there will probably be a $100 assumption fee and the recording fees... which might be another $20-100 (the county charges per page). When you do the whole thing, have the Quitclaim recorded AT THE SAME TIME. That protects you from liability. The lender may even require you to go through escrow and get title insurance, I don't know. Assumptions are very rare, since most lenders don't allow them. In 10 years of escrow work in CA, I think I only saw an assumption once.

Feel free to PM me if you have questions come up during the process.

HTH

[CaliMommie]

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[Thystle]

{{{{{{{{{{{{{hugs}}}}}}}}}}}}}}}


If he can afford the house, and especially if he gets rid of it... don't let him get away with not paying that CS! ESPECIALLY if he is going to sell your van (are you on it or is he ordered to pay it?).

[CaliMommie]

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[Thystle]

Well if he has to pay the van and then sells it... get his booty in trouble!

And then get them to have the court ordered cs where they take it out of his paychecks and send it to you through the court.


He does not deserve to pull all this crap and get away with it. Even if all it does is get him on the dead beat parents list... he can lose licenses and tax returns.


{{{{{{{{{{{{hugs}}}}}}}}}}}}



Just being po'd for ya! Good luck on the house!!!!

[CaliMommie]

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[CaliMommie]

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[Thystle]