Legal Question in Real Estate Law in California

Refinance vs. loan modification

Divorcee received property through dissolution (Aug 2006), (QC deed 1999 h/w as trustee of FT), 3 loans on property(86,87 & 89) under the ex-husband's name by same lender, NOD filed on 1st June 2009. Wife wants to refinance and remove husband name from loans, all loans are delinquent. Would it be easier to go back to the orignal lender to remove husbands name and refinance or find another lender. I have not reviewed document to determine if she was granted the property as sole and separate assuming she was may the decree act alone for proof to refinance and remove his name. Husband is not cooperating.


Asked on 6/14/09, 6:07 pm

1 Answer from Attorneys
Robert Mccoy Law Office Of Robert McCoy

Re: Refinance vs. loan modification

Wife may not refinance unless original lender agrees or is paid in full. The loan is in both your names, so wife will probably have to refinance through this lender or another one; if she qualifies. If she does not qualify, she will need to get current on the house. If she is the only one paying for the house, she can probably get a court order giving her possession. In order to cure the default either wife or husband may need to file for Chapter 13 bankruptcy.

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Answered on 6/14/09, 11:31 pm


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