refinance mortgage after divorce

In a divorce, it’s bad enough that you’re losing someone. And finding a replacement, much like starting a love life all over, won’t be easy. After all, lenders tend to give mortgage loans to people.

Refinancing Mortgage After Divorce – If you are thinking to refinance your mortgage loan, you can start by submitting simple form online to see how much you can save up. Many homeowners choose to refinance to get out of their current mortgage.

Home mortgage refinancing allows you to keep your home after a divorce. If you have been awarded the home in a divorce settlement, your ex-spouse will need to file what is called a quitclaim. In order to remove a name from the home mortgage and deed, you must refinance the home and file the quitclaim deed.

If you’re looking to refinance your mortgage after a divorce in order to remove a spouse from the loan, it can be tricky but not impossible. Divorce is stressful, painful and can get messy, especially when you and your spouse need to work through the logistics of dividing assets.

Taking Your Spouse Off Your Mortgage. There is only one way to have your spouse’s name removed from the mortgage: You will have to apply for a loan to refinance the mortgage, in your name only. After all, the original mortgage was approved in both of your names, giving the lender two sources of repayment.

And while it's possible to refinance a mortgage soon after taking out the. Borrower removal: If you were recently divorced and both spouses.

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"Unfortunately, there are no foolproof ways to protect spouses who are co-debtors on a mortgage after a divorce," said Linda Kerns, an attorney in Philadelphia. "The best solution is to refinance or sell.

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Get your ex off your mortgage with no out of pocket costs. Or, get into your new home before your divorce is final with a divorce bridge loan.

Refinancing may be necessary after divorce if your former spouse wants their name removed from the original mortgage. conduct a break-even analysis to compare the costs of refinancing against the.