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Today: 22.01.2018 - 14:01:14
   Canada Mortgage Hub Discussion Board -> Mortgage Calgary -> I don't qualify for the mortgage when ex gets removed from title...?
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okostik

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I don't qualify for the mortgage when ex gets removed from title...?
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Canada brokerage
Post # 1.

prkush

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i am going to answer mr. placid as my other moniker in here, as yahoo doesn't seem to want to let me replay as the person who asked the question. i know what divorce is in the usual sense....when people who once loved each other now hate each other and wish nothing but each others downfall but this WAS not the case with me and my ex. that is, until the blonde girlfriend came into the picture and was threatened that her boyfriend and i had remained close friends, kin if you will. sell the house and get an apartment you say? that's great, seeing as how i still have his children living with me! i have been paying those mortgage payments for the 9 years of our separation and our current divorce and i have never ONCE defaulted on them. i have enough money to live, to pay the mortgage but not enough to qualify for it, in the banks eyes. i have known my ex since he was 17 years old, we have been friends all that time (until recently i would seem) and he KNOWS i am not flaky, wouldn't dream of saddling him with defaulted payments and that i am a solid and ethical person. granted, i know some people are not and there are many horror stories to prove so. an apartment, pffffttt. i have sole responsibility for KIDS....shall we all cram ourselves into some shite apartment?
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Post # 2.

ntq235

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When you say renewal, are you talking about an adjustable rate mortgage? The only thing that changes is the rate, not any other terms of the mortgage. It has a term (confusing word, but here I'm referring to a time frame of years, like 15 or 20 or 30 years) and that doesn't change unless you refinance to a different mortgage. If only his name is on the mortgage, you will probably have to refinance it into your name, assuming that the divorce decree actually gave it to you. If "he keeps his" and his is the name on the warranty deed (or whatever it's called in Canada), you may be cooked. If your divorce decree specifies that's your house, be sure it's filed with the land records, and then it will be your house for sure.
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Post # 3.

pargupta

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You sound like you don't know the meaning of "divorce." You're divorced, splitsville, gone your separate ways. You want him on the title so that you can keep the mortgage, for which HE is responsible. Why should he be responsible for paying the mortgage on YOUR home?? Yes, as long as his name is on the mortgage, he is responsible for any missed payments. He obviously has learned from other divorced men. Typical scenario: Ex wife gets the home, title & mortgage remain in joint names, and two years later his credit score takes a dump because ex wife missed a bunch of mortgage payments. It sounds like you married a smart guy who knows that it is a bad idea to leave a bunch of loose ends hanging around after finalizing a divorce.(By the way, just to be fair, this scenario happens to women as well, where flaky ex husband misses a bunch of mortgage payments, resulting in bad credit, and creditor's letters, to ex wife.)If you cannot qualify for (afford) a mortgage, then sell the home and rent an apartment.
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