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Discussion Starter · #1 ·
trying to get my ducks in a row...<br><br>
stbx is the only one on the mortgage although we are both on the deed. Can I put my name on the mortgage & then take his off at a later date? Do I/we have to refinance to do this? What about the home equity loan? I'm concerned because I don't have a work history although I'll be making a decent salary by next September.<br><br>
I need to call the mortage company next week, but wanted to see what some options were. tia
 

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I have the EXACT situation. You can't just be added or removed from a mortgage. In the divorce agreement, we stated that the house deed will go into my name only but I have to refinance within 3 yrs. I figured that was a good time period to get a work history. The only thing that stinks is that he can claim the interest on taxes.
 

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<div>Originally Posted by <strong>cheyennemama</strong> <a href="/community/forum/post/6505340"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">The only thing that stinks is that he can claim the interest on taxes.</div>
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Only if he actually pays it.
 

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I had the exact situation and x played dirty. In order to have your name placed on the mortgage x has to agree to refinancing. If he doesn't want you to have the house he won't agree and you are screwed. However, being on the deed gives you the ability to profit from the sale of the house. If he or you defaults on the loan the only one's credit effected is his because you are not legally liable for that money. Essentially you could stop paying all together and your credit would not be effected, but if he decides too, the house goes into foreclosure. I tred to refinance in my name or my brothers. X refused. I couldn't afford the mortage myself and I struggled month after month. I desperately didn't want to lose our home. X wouldn't refinance and would contribute. Low and behold the house was foreclosed. <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/greensad.gif" style="border:0px solid;" title="greensad"> It all depends on how he wants to play
 

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Discussion Starter · #5 ·
Thanks mamas. I don't think he'll necesarily (sp?) play dirty with this since I've stressed how important it is for dd to have stability during this time & he has agreed. I know things can turn on a dime, but yes it's his credit (though at times I don't think he really cares or understands the implications).<br><br><div style="margin:20px;margin-top:5px;">
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<table border="0" cellpadding="6" cellspacing="0" width="99%"><tr><td class="alt2" style="border:1px inset;">
<div>Originally Posted by <strong>cheyennemama</strong> <a href="/community/forum/post/6505340"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">...the house deed will go into my name only but I have to refinance within 3 yrs. I figured that was a good time period to get a work history....</div>
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That sounds like a great idea & just may work for us.
 

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<div>Originally Posted by <strong>rmcarons</strong> <a href="/community/forum/post/6507189"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">If he or you defaults on the loan the only one's credit effected is his because you are not legally liable for that money. Essentially you could stop paying all together and your credit would not be effected,</div>
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this actually depends on where you live...if you're in one of the community property states...his debt is your debt & visa versa....so if he defaults on the loan...your credit is shot too.<br><br>
I'm actually in this situation too....we made a deal to buy a house & keep it until youngest graduates high school....two months into it, he decides that he doesn't want to anyone and thus starts the "did you call the realtor" mantra from x.
 
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