Legal Question in Credit and Debt Law in New York
My son and his wife (soon to be ex-wife) filed for bankruptcy a couple of years ago. My son is having money taken out of his paycheck to pay for the bills which is a little over 300 dollars a week for the next year and half. They also have a house payment which he is currently paying. Both names are on the house and she doesn't want it, but she wants him to take her name off of the house. How can he do this without refinancing? If he keeps the bills which he is paying weekly and gets her name off of the house, she won't go after his pension. He is only 35 years old and only has until April to get this done. Can you help please?
2 Answers from Attorneys
Unless the lender agrees, it cannot be done.
Perhaps it is possible to change the deed without refinancing the house. Your question does not state that she wants her name off the mortgage documents or the loan documents. If he remains current in the payments I would think the lender would not care/know that her name was removed from the deed. It may be a technical breach of the loan agreement, but the cost of a forced refi should be measured against the potential loss of funds from the pension.
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