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#2207445 - 02/28/19 06:59 PM modification - divorce
pjs Offline
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pjs
Joined: Aug 2004
Posts: 10,318
oHiO
Is it up to a bank if they want to do a modification to remove a borrower from a mortgage loan in the case of divorce? Or do most banks require a refinance to remove a borrower? I understand that the other borrower would have to be in debt/income % -
Thanks.

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#2207489 - 02/28/19 10:12 PM Re: modification - divorce pjs
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,216
Galveston, TX
A simple release of liability is all that would be required from the note. But you are correct, it is purely a bank option to allow that to happen. And it should not happen without properly underwriting the remaining borrower.
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#2207560 - 03/01/19 06:54 PM Re: modification - divorce pjs
Truffle Royale Offline

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Posts: 17,285
Likely they're going to want the ex off title too which is why the mortgage would have to be modified.

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#2207606 - 03/04/19 12:44 PM Re: modification - divorce Truffle Royale
pjs Offline
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pjs
Joined: Aug 2004
Posts: 10,318
oHiO
Thank you all!!! I appreciate this.

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