Just got a divorce and judge ordered for me the pay Home Equity loan, how do I get husband’s name off first? 14 Answers as of April 11, 2013

Husband and I have a home equity loan, which I never knew he borrowed money on only that it was approved. Now divorce judge ordered me to get his name off and pay the loan off. This has to be done in 200 days. If I can't get his name off has to be paid in full.

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Victor Varga | Victor Varga
Answer Applies to: Maryland
Replied: 12/5/2012
The Law Office of Cathy R. Cook
The Law Office of Cathy R. Cook | Cathy R. Cook
You would have to refinance the loan into just your name.
Answer Applies to: Ohio
Replied: 12/5/2012
Sapiro Gottlieb & Kroll | Lawrence Kroll
The only way to get his name off is to refinance the loan.
Answer Applies to: New Jersey
Replied: 12/5/2012
Dennis P. Mikko Attorney at Law | Dennis P. Mikko
While your Judgment of Divorce may require you to remove your ex-husband's name from the home equity loan, there is no requirement on the lender that they comply. Iin fact, in most cases, the lender will not voluntarily release a party from the loan even if there is a divorce. One place to start though is by talking to the lender and seeing what, if anything, they will do. If they will not release your ex-husband, you may be forced to re-finance and pay off the current home equity loan.
Answer Applies to: Michigan
Replied: 12/4/2012
Woods, May & Matlock, PC
Woods, May & Matlock, PC | Robert J. Matlock
The divorce allocates assets and debts between the parties but cannot change the rights of creditors. Generally, paying off the note or finding another lender to replace the current lender are the only means of removing liability for one of the parties.
Answer Applies to: Texas
Replied: 12/4/2012
    Woolley Wilson, LLP
    Woolley Wilson, LLP | William R. Wilson
    Generally a lender will not remove a borrowers name from the note unless you refinance. Check with the lender for options.
    Answer Applies to: Texas
    Replied: 12/3/2012
    You would need to refinance the loan into your name, based upon your income and credit.
    Answer Applies to: Georgia
    Replied: 12/3/2012
    Fox Law Firm LLC
    Fox Law Firm LLC | Tina Fox
    If you cannot pay off the loan w/i 200 days, you will have to refinance the loan, in your name only (or you & someone other than ex-husband) in order to satisfy the terms of the judgment.
    Answer Applies to: Illinois
    Replied: 12/3/2012
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