Hi,
Extremely amicable divorce about to happen. No drama or fighting. No one’s Going after anyone, and no-one will be fighting for anything in court.
We are married and have a house with both of our names on the mortgage. The 5 year closed mortgage is up for renewal in January. We put 20% down when we bought it. She’s keeping the house and the 20% down payment. She will be able to get refinancing with the 20%. I received a large inheritance which I will use towards my own house.
Basically what I want is to no longer hold title to the property or have any interest in it, to remove my name from the mortgage and utilities etc, and be able to get my own mortgage.
I know very little about divorce and separation. My questions and concerns:
We obviously want to go to the bank and get the mortgage changed with only her name on it. But I need to know the correct order of things. If we just go to the bank will they even be able to help her with refinancing or any of that jazz while the property is still in both of our names? Or will they tell us that they cannot do a thing until we present them with a separation agreement, or document ‘x’ or ‘y’ from a lawyer?
Lawyer first or bank first? Do we have to go to a lawyer at all? Do we need a separation agreement? If we do, do we have to see the lawyer before we can get anything changed at the bank, or bank first then lawyer, or doesn’t matter?
My goal: get my own mortgage, look for a house I like, buy the house, and GTFO. The problem: being married, owning a house with someone, having a current mortgage with someone will prevent me from getting my own mortgage.
Thanks for any replies. If any of this sounds confusing, it’s due to my limited understanding of how this all works. Operation GTFO has commenced.
Extremely amicable divorce about to happen. No drama or fighting. No one’s Going after anyone, and no-one will be fighting for anything in court.
We are married and have a house with both of our names on the mortgage. The 5 year closed mortgage is up for renewal in January. We put 20% down when we bought it. She’s keeping the house and the 20% down payment. She will be able to get refinancing with the 20%. I received a large inheritance which I will use towards my own house.
Basically what I want is to no longer hold title to the property or have any interest in it, to remove my name from the mortgage and utilities etc, and be able to get my own mortgage.
I know very little about divorce and separation. My questions and concerns:
We obviously want to go to the bank and get the mortgage changed with only her name on it. But I need to know the correct order of things. If we just go to the bank will they even be able to help her with refinancing or any of that jazz while the property is still in both of our names? Or will they tell us that they cannot do a thing until we present them with a separation agreement, or document ‘x’ or ‘y’ from a lawyer?
Lawyer first or bank first? Do we have to go to a lawyer at all? Do we need a separation agreement? If we do, do we have to see the lawyer before we can get anything changed at the bank, or bank first then lawyer, or doesn’t matter?
My goal: get my own mortgage, look for a house I like, buy the house, and GTFO. The problem: being married, owning a house with someone, having a current mortgage with someone will prevent me from getting my own mortgage.
Thanks for any replies. If any of this sounds confusing, it’s due to my limited understanding of how this all works. Operation GTFO has commenced.
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