Can I refinance a home where I am on the deed but my ex-husband is on the deed and loan and the loan is currently in default

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Can I refinance a home where I am on the deed but my ex-husband is on the deed and loan and the loan is currently in default

I am only on the deed. Loan is
currently in default. I want the deed
and new loan in my name only.

Asked on January 26, 2017 under Real Estate Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Lenders are not required to refinance (or to give out loans in the first place)--it's not as if there is some legal right to mortgages or refinancing. It's up to the lender when, and under what circumsances, and with what terms, they will refinance. Therefore, if a lender refuses to refinance due to late payments or default, that is their right and you cannot force them to refinance--all you can do is either fix the problem or shop for a lender who will let you refinance or take out a new loan to replace the old.


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