Legal Question in Banking Law in South Carolina

Mortage discrimination

After my divorce, I got the condo in South Carolina (where I was living) and my husband got the house in Wisconsin (where he was living). I have a quit claim deed, have been paying the mortgage and property taxes for many years since the divorce and now want to take my ex-husbands name off the mortgage. The condo is worth $150,000.00. I owe 39,412.00. The mortgage company said I had to reapply for the loan. Now it seems they have turned me down for this mortgage. A friend of mine did the same thing when his divorce became final only he had to give his wife half the money. His mortgage came to $175,000, he makes less than I do, pays alimony and is putting a child through college, not to mention other debts. Is the operative word here HE?

My main question is: What can this mortgage company do legally? What can I do legally?

Thank you,

Cheryl


Asked on 4/02/02, 8:23 am

1 Answer from Attorneys
Charles Griffin Law Offices of The Griffin Firm, LLC

Re: Mortage discrimination

In order for your exhusband's name to be removed from the mortgage, you will need to re-finance with your lender or another lender. I don't know why your current lender would not approve you unless your credit rating has deterioriated or you do no have enough income to qualify for a 40k loan. Also, if he has judgments or tax liens filed against him in the county where your condo is located, could be causing a problem. I would need to know more information. If all is clear, then you may just need to shop around for another lender.

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Answered on 4/02/02, 8:18 pm


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