How to remove a name off of a house??

Christel
My friend bought a house with her Boyrfriend and then moved out. They broke up. I know stupid mistake! How does she get her name completely off the House? He just lost his job. I have heard that the only way to get her name off is if he gets it refinanced in his name. Is that right? Will he have to have any money down when he gets it refinanced? The house is in Washington State and my friend lives in TN. Is it hard to refinance right now? How much does this process cost? How long does it take? Will she have to fly to WA to get her name off? I will be greatful with any info! Thanks Also do u know of a web site about this process?

Divina
It depends on if the house and lone are in her name or just one or the other. If the house is in her name but not the lone then she can quit claim it to him. If she is on the loan tell her not to quit claim it to him because this only gets you off the house not the lone. So now if something happends she is in trouble to but if he pays the house off it is his and she can do nothing about it. It is really hard to refinance right now if you don't have perfect credit and a job. No one is going to refinance just him if he has no job. There are all diffrent types of lones and things he can get so there is no way of knowing how much it is going to cost him. It could be from a few houndred to thousands of dallors. If they have been late or are behind they won't beable to get refinanced either. They should try to sell it. For your friend living in another state seh could have them over night her the papers sign and notarise them and over night them back if things need to be signed by her. Just tell her to make sure she knows what she is signing. If she has to keep them and take them to a lawyer or someone who knows that kind of thing to look at.

Eleonore
I presume that you mean "get her name off the loan." The only way is to pay off the loan via sale or refinancing.Whos name(s) is/are on the property title? (That's different from the loan note).

Angelyn
He needs to do a re finance after she signs a quick deed sale.

Paola
Are they upside down on the loan?If so, she's screwed.

Hedy
You are right- he has to refinance into his own name. He will have to qualify as far as his credit/income etc. Until he does that she is liable for the loan just like he is. If he doesn't pay- it goes on her credit. He shouldn't need money down- that's only for when you first buy. She will not have to go to Washington- when his new loan pays off the exsisting one all of her liablilty is gone. Can take anywhere from 2 weeks to 45 days- depends on how quickly he gets the new mortgage company his docs (W'2s etc) & how busy the mortgage company is. All of the work has to be done by him- she has nothing to do with it. However, keep in mind, he may not make enough to qualify on his own & if he is not working he will not qualify for sure.

Debby
You're talking about two different issues here: mortgage and ownership.To take a name off the mortgage the only way is for the other owner to refinance it. If the boyfriend doesn't have a job, it's not likely -- actually just about impossible -- for him to refinance. You don't normally make a down payment to refinance. You may have to buy down the mortgage if the lender won't refinance the amount you owe, or if the loan balance is more than the value of the house, but that's not "money down". She can remove her name from the warranty deed, the document that indicates who the owner(s) of record are, but she will still be responsible for the mortgage until he refinances. There are no other options. The lender gave the loan to both of them, and he expects both of them to make sure it's paid back. Them breaking up or people getting divorced, doesn't change that contract. A title company can take care of removing her from the warranty deed, but would she want to be responsible for the loan on a house she doesn't own?