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My name and my ex name both appear on title and security deed but only his name on mortgage. Can I assume the loan?

by hermanab600 from Lennon, Michigan. Jan 18th 2021 Reply

Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,423 contributions

Maybe, but probably not. If you were married when he acquired the property and you were added to title during the marriage and the court approved divorce decree requires him to give you the home, the current lender MAY allow an assumption. However, it is most likely they won't. We have loan programs that will allow someone in your shoes easier access to the funds you need to buy out your ex. If no buyout is needed, we still may be able to get you into your own loan. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ 480-889-9000.

Jan 18th 2021
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,719 contributions

Probably not, UNLESS the current loan is an assumable loan (VA for example). Even then, they are assumable WITH QUALIFYING. Which means they will verify you can afford the house. More often than not, you will need to get your own loan. But as you are already an owner of the property, this would be a refinance, not a purchase. I lend in WI MN IA SD ND. Visit me at - Cambria Mortgage, NMLS 274132

Jan 19th 2021
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