refinancing without a job? - Posted by marie in NC

Posted by Nate(DC) on November 05, 2003 at 19:40:02:

Let me preface this by saying that I am not a lawyer, but I also don’t think that you really seem to be asking for legal advice, so I will tell you my opinions on the situation.

My understanding of the situation is as follows:

  1. Your husband used to be married to another lady.
  2. They owned a house together. The mortgage is in both of their names.
  3. They got divorced and then he married you.
  4. When they got divorced, they agreed that he would give her all rights to the property, if she would remove him from future loan liability by refinancing.

(do I have it right so far?)

So, at this point, it would seem that your husband is half owner of this house, so unless he signs a deed giving up his ownership, no refinancing can take place without his approval.

I would hope that your husband’s primary goal would be removing his liability for the loan on that house (I assume he does not like paying for a house he doesn’t live in). To that end, it would also seem to me that he would want the ex-wife to refinance any way she could, and would do anyting possible to encourage her to do so.

Anything other conditions about whether she has a cosigner, etc. seem to me to be needless drama, and would suggest that his primary motivation is NOT to get rid of his own liability, but rather to “stick it” to his ex-wife.

If that is true, he does not sound like a mature individual. I can understand anger and frustration at an ex-spouse. But it’s too bad when it has to get in the way of the right solution.

See, you didn’t need a lawyer, just a psychologist :slight_smile:

(Actually, I’m neither, but hey, neither of them will advise you for free!)


refinancing without a job? - Posted by marie in NC

Posted by marie in NC on November 05, 2003 at 05:10:43:

I hope you can help me… do you know of any financial
programs whereby an ex-spouse can legally refinance the
balance of a VA loan in her name only if she is out of work with medical disabilities? I am a little concerned about this, especially since the ex-spouse is
expecting my husband to sign a quit claim deed giving her
sole rights to the property. My husband is currently paying the mortgage which is in both of their names.
I didn’t think it was possible for her to be able to
refinance anything if she doesn’t have a job. Any
suggestions other than seeking a lawyer which we have already, but he sent us Quit Claim papers which we have told him in previous conversations that we were very
concerned about. Would it be
legally acceptable for us to get a copy of her refinancing
papers to ensure that she is refinancing in her name only
and not in association with a cosigner (she has a cohabitator). The deal made to her was that my husband offered her the house for the amount owed on it but only if her name alone is on the refinancing papers. Can she
legally refinance the house without my husbands knowledge?
Doesn’t my husband have to sign something so that the original mortgage company releases him from the loan, even
if she refinances through a second company? Thanks.