Assuming Mortgage

nowayoutofthis

LoanSafe Member
Feb 26, 2014
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I made a request to my mortgage service to remove my ex-husbands name from mortgage, along with quit claim deed he signed giving me all rights to the property and our divorce papers showing the house and property was given to me in the divorce settlement. They replied and said they could not do so, but they said they would send the information to the assumptions department.

They said they would send paperwork to address on file. I got a letter a couple of weeks later saying the following name has been removed from mortgage. It was my name. I immediately called mortgage service and ask what does this mean, and they told me it was just showing from now on the statements would have only my name on them because my ex-husband was removed.

My mortgage service assured me I was still on the mortgage and I was the only one on the loan now. I checked my credit the other day and the mortgage has been removed and comments were that the other party ( my ex-husband) had assumed the loan.

I'm worried because I can't reach my mortgage company now because it says the hurricane is causing delays, they are in Florida. If they have made this terrible mistake what can I do to stop this. They didn't send me any papers to sign or fill out or anything, they just sent letter saying I was removed, but then when I called they said no, he was removed.
 
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Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
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San Diego, California
www.loansreduced.com
This is quite interesting and I'm not sure exactly what they did, especially with the research you have done. I would like to ask a question about the mortgage not showing up on your credit - at any point have you filed bankruptcy and possibly included your home? That could be a reason it's not showing up on credit. If you haven't filed bankruptcy and ultimately assumed the mortgage it should still report on your credit.

When you assume a mortgage typically it's not as easy as it seems you have been able to accomplish it. First the loan has to be assumable, which it sounds like yours is. Next you have to provide proof that you qualify for the mortgage on your own (income, credit, debt ratio...etc) which is a similar process as a refinance. I have also seen lenders ask for proof that you have made the payment from your own funds for the past 12 months. In most cases they won't allow you to just remove a name from the mortgage even with documentation of the house being deeded over to you through a divorce settlement.

Outside of the above information, if you want me to pull title on the property to see how it shows on the county records - please reach out to me at [email protected] - I'm also more than happy to call your servicer on a 3 way call to see exactly what they have done (with you having a mortgage professional on the phone). Please don't hesitate to reach out and hope it all works out the best.

Prayers to everyone affected by the numerous natural disasters across the country.