I have house that my Husband recieved in the Divorce, and now it is his BUT the house is all in my name only. He has been asking off and on to put the deed in his name. I said you need to refi first and then I well, he claims that he can't refi with out me signing it over first. I am not wanting to sign for fear that when I do he sticks me with the loan still in my name. If he splits I am stuck I have seen it with someone else with a car.... Is there a way to make it good and make sure the refi is going through before I sign. Thanks

I wouldn't sign anything unless through escrow.  Explain to the escrow officer what you are doing and they will provide instructions for you to sign to indicate that it is not to be recorded untill you receive payment.  Doing it through escrow should be okay.  Escrow is different in each state, check with a professional in your area.

That is good advice.  In addtion to that, who ever he or yourself chooses to handle the refinance make sure that all parties are informed. 

 

Voyage Home Loans

Mike Kim

I have done many divorce refi/transfers. Deed is signed at closing. You don't need to do anything upfront. As long as your ex qualifies on his own for the refinance, you can sign over the house and no longer be obligated on the mortgage. These transactions are not difficult.

Anon

Do be careful.

You should seek a reputable attorney's advice. Yes there will be a fee. Your ex should pay the fee to the attorney you choose.

Deals i have worked with proceed as follows...

Application, conditional approval, quit claim signed but the original is retained by the person giving up title on the quit claim, underwriting clears file for closing, person giving up title brings quit claim to the title company along with a letter of direction that the quit claim is to be recorded only after the recission period (if any) passes and the new mortgage is about to be recorded.

Do not provide any signed originals until the file is CTC - Clear to close... NO reputable lender expects you to sign away your rights until the deal is at the closing table.

You have heard this same thing. This is a rather simple process. A standard owner occupied refi with the title work being done in his name only and a quit-claim (releasing your interest-conditional to closing the loan off course).

Generally, you will have to sign the quit-claim just prior to completing the underwriting process, but the quit-claim that is prepared is conditional on the closing and non-recision of the loan under your ex's name. The struggle may be his credit or DSR. These are common victims of a divorce, as one party may get the debt, but joint debt is still reported. Still, he should expect to provide full documentation including a copy of the filed divorce and any child support orders.

It does not matter if he goes to a direct lender or a broker, he just needs to get it done. I suposse that this is a part of your property disposision order, which is enforceable by the court, assuming that he can qualify. Make him show you that he is proceeding with i title transfer refi.

 

Ken Bates