loan assessment following divorce (approved, credit, refinance, bank)

[purplesky]

Has anyone done a loan assessment? I called my bank (Chase) and they are sending us the forms. My soon to be ex-husband really wants our house and I don't. According to the Chase rep, there are no questions regarding income/finances, etc on the 16 page form that he has to fill out. I

The Chase rep sees no reason why it wouldn't be approved, but I am treading cautiously becuase who will have ownership of the house has gone back and forth like a ping pong match.

I'm really hoping it will go through. WE just have to wait to we get the official divorce decree and then we are supposed to file it with the loan assessment to get my name off the financing. At that point, he is supposed to be able to do a quit claim deed to get my name off the title.

I want to start looking for a place so my kids and I can move in before the start of school in the fall.

So, any experiences with loan assessments would be greatly appreciated.

[Debsi]

I'm not familiar with "loan assessment" as a way of getting off a mortgage. I also have trouble imagining a bank releasing one party from the obligation without any credit/income check of the other party. That said I don't know anything about Chase's mortgage division.

You and your ex can do any kind of deed you want that removes your name from ownership, but your bigger problem, as you know, is getting your name off the financing.

Many divorce decrees stipulate that the spouse keeping the house must refinance by a certain date, but if the ex-spouse doesn't bother to do it, or can't qualify for the refinance, the other spouse will still be responsible for the mortgage irregardless of actual ownership of the house.