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Step 1
Once the Final Judgment has been entered, check it to see who received the property. If your spouse received sole and exclusive use of the property, you will not be able to refinance it. Your name will still be on the mortgage until your spouse refinances the property. If your spouse does not pay, you, even though you no longer own the property, will still be responsible for the mortgage. If you received sole and exclusive use of the property, go to Step 2. If you did not receive sole and exclusive use of the property, go to Step 4.
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Step 2
Check the public records to make sure your spouse filed the quit claim deed, deeding the property over to you. If your spouse has not filed the quit claim deed as directed by the Final Judgment, contact your attorney and advise him that your spouse has not filed the quit claim deed as instructed in the Final Judgment.
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Step 3
Once the quit claim deed has been filed, contact a mortgage broker or bank to start the refinancing process. You may be asked to provide a copy of the Final Judgment and the quit claim deed to show that you solely own the property. Depending on state and local rules, your ex-spouse may or may not have to sign off on documents for the original mortgage to be closed.
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Step 4
Check the Final Judgment to be sure that both you and your ex-spouse should be on the title. Even if she was awarded the home, if the Court ordered you to stay on the title and the mortgage, you can still refinance. Get a copy of the Final Judgment, deed and original mortgage documents together for the mortgage broker or bank.
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Step 5
Discuss the refinancing with your ex-spouse. You will both have to provide documentation for the mortgage underwriting process (bank statements, pay stubs), and you will both have to be present at the closing. If your spouse does not agree to refinance the home, you will not be able to refinance.
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Step 6
Gather all documents requested by the mortgage company or bank. They will find a bank to refinance your mortgage and draft all of the paperwork needed to close on the mortgage. Attend the closing and pay off the old loan. If you are refinancing on your own and the title is in your name only, the mortgage (after the refinancing) will place the entire responsibility of the marital home on your shoulders. If you and your ex-spouse are refinancing, you will still be responsible for the new mortgage, even though your ex-spouse is living in the home.
