Home Mortgage Joint Co-owner in New Jersey, my son Lent me 5,000 dollars so I could buy out my husband during our divorce so we could remain in my

Asked by Cole, 08234 Tue Nov 1, 2011

$260,000 home.My son whom name is now on the new mortgage. My divorce was finalized 2 months ago, Now my son whom I trusted he refuses to sign any papers to the lending bank to remove his name off the mortgage and will not except the $5,000 he lent me or is able to buy me out, as I would like to sell the home.What is needed to do to solve this problem to remove his name or can I move foward to sell the house. Thanks Shirley

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Jane Shebroe’s answer
Jane Shebroe, Agent, Jupiter, FL
Tue Nov 1, 2011
Assuming your son is only named on the mortgage and not named on the deed or title, you can remove his name off the mortgage yourself simply by refinancing. Will your income qualify for a new mortgage without using his income? If so, then you do not need him to sign anything to refinance and put the new mortgage in just your name. If he is named on title however, then you need to ask your attorney what to do. Feel free to contact me 973-766-4018

1 vote
Erin Reilly, , Atlantic County, NJ
Wed Nov 2, 2011
Hi Shirley,
Both agents below gave you correct information. If you have any additional questions, feel free to contact me at your earliest convenience!

Erin E. Reilly
Prudential Fox & Roach/Northfield
609-646-1900 Office
609-502-4093 Cell
0 votes
Pamela Stear…, Agent, Absecon, NJ
Tue Nov 1, 2011
As long as you did not put your son's name on the Deed when you refinanced, you will have no problem selling the property without his signature. And I have to assume if you bought your husband out, his name is no longer on the Deed. If you give me your address, I can look it up for you and see exactly whose names are on the Deed. But if your son is not on the Deed, his permission is not needed to sell the property.
Pam Stearns, Re/Max Atlantic
0 votes
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