Recent Mod - Qualified By Myself Now How to Remove Ex?

[sn3ak3rp1mp]

After a 15 month fight with Chase I was finally able to obtain a permanent loan modification for my FHA loan (primary residence) last September. The original loan was to myself and my (now ex) husband, as joint borrowers. All throughout the loan modification process, I filled in all the documents myself without listing my ex and listed only my income. Therefore, only my income should have been considered in the modification process (which I was told was underwritten again)... but when I recieved the final loan mod paperwork, my ex was listed and had to sign the documents. After fighting for 15 months, and almost losing my home, I decided to just talk him into signing (Chase also called him and asked him to sign) which he did and the modification was approved.Fast forward to the present. He now wants to be taken off of the mortgage. He has had a couple of conversations with Chase and they sent him a packet to fill out, which he in turn mailed to me. It says it is a "Application for Assumption" and it comes from the "Assumption Department" in Florence, SC. The application goes into income, expenses, etc. etc. just like all of the paperwork I filled out for the modification.Do I really have to completely re-apply for my home loan, when I was just granted a permenant loan modification less than a year ago? Do I have any other options? Quit Claim? My ex lives out of state, has no interest in the property outside of being listed on the mortgage, and did not contribute in any way toward the modification process.Looking forward to your responses. Thanks for reading!

[Kris3063]

I am in the final stages of getting my permanent modification. I already made my trial payments. I had to do a Quit Claim Deed during the modification for them to consider the modification on my income alone. I have not received my permanent docs yet, but if my ex is on them..I will not be happy. They had not one scrap of his information to base any payments off of..only mine so I don't see why he would be. They told me that was the reason I had to file a Quit Claim Deed. I went to Staples and got the kit to fill out for the Quit Claim Deed..but it still has to be filed with the County Clerk's office and there are filing fees. Mine cost me $185. Still much less than getting a lawyer to file it, but more than I had to spend at the time. But I had to do it to get through the process.

[dow jones]

I'm in the same boat, my ex didn't want the house and was part of the reason we ended up in foreclosure, I had her sign the quit claim so I could get the mod approved on my income but I can pretty much gurantee you her name is still on the loan.

When I call to make the payment I can still enter her last four digits of the social and it will let me access the loan.

[luvatholm]

I am in the final stages of getting my permanent modification. I already made my trial payments. I had to do a Quit Claim Deed during the modification for them to consider the modification on my income alone. I have not received my permanent docs yet, but if my ex is on them..I will not be happy. They had not one scrap of his information to base any payments off of..only mine so I don't see why he would be. They told me that was the reason I had to file a Quit Claim Deed. I went to Staples and got the kit to fill out for the Quit Claim Deed..but it still has to be filed with the County Clerk's office and there are filing fees. Mine cost me $185. Still much less than getting a lawyer to file it, but more than I had to spend at the time. But I had to do it to get through the process.

Did you ever get your ex off the loan? I just started this and BofA said my loan had to be up to date and paid on time for a year before I could ask for an assumption.

[luvatholm]

I'm in the same boat, my ex didn't want the house and was part of the reason we ended up in foreclosure, I had her sign the quit claim so I could get the mod approved on my income but I can pretty much gurantee you her name is still on the loan.

When I call to make the payment I can still enter her last four digits of the social and it will let me access the loan.

Hello, Did you ever find out is ex was removed?

[Evan Bedard]

Did you ever get your ex off the loan? I just started this and BofA said my loan had to be up to date and paid on time for a year before I could ask for an assumption.

A Quit Claim Deed is going to remove the co-borrower from the deed and make it possible to do a modification without their approval, but they may still be attached to the actual note.. From my understanding it is a refinance or an assumption of the loan will get your ex removed from the mortgage note completely..

[asc123]

I am in the final stages of getting my permanent modification. I already made my trial payments. I had to do a Quit Claim Deed during the modification for them to consider the modification on my income alone. I have not received my permanent docs yet, but if my ex is on them..I will not be happy. They had not one scrap of his information to base any payments off of..only mine so I don't see why he would be. They told me that was the reason I had to file a Quit Claim Deed. I went to Staples and got the kit to fill out for the Quit Claim Deed..but it still has to be filed with the County Clerk's office and there are filing fees. Mine cost me $185. Still much less than getting a lawyer to file it, but more than I had to spend at the time. But I had to do it to get through the process.

Kris or anyone,

What county did you have your quit claim recorded? I am in snohomish County and they are telling me I have to pay an excise tax of 1.89% of balance on 1st and 2nd mortgage. Which is absurd because my house is well over $100k underwater. Not sure if it's because we are not married. She was my fiance and we broke up. She is willing to give up her rights to the house. Any advice is greatly aprreciated. Thanks.

[Evan Bedard]

Kris or anyone,

What county did you have your quit claim recorded? I am in snohomish County and they are telling me I have to pay an excise tax of 1.89% of balance on 1st and 2nd mortgage. Which is absurd because my house is well over $100k underwater. Not sure if it's because we are not married. She was my fiance and we broke up. She is willing to give up her rights to the house. Any advice is greatly aprreciated. Thanks.

They are trying to charge you 1.89% of the balance to complete the quit claim deed?

[asc123]

They are trying to charge you 1.89% of the balance to complete the quit claim deed?

Evan,

Yes. They want 1.89% for excise tax to have the quit claim deed recorded. Is this common, especially if there is no equity? I am in Snohomish County Washington State. Thanks.