Switch a 2nd home from joint to single ownership?

conandrob240

2nd home in FL. Want to remove one spouse from title, ownership, mortgage. What’s the first step? Attorney? And do you need to apply for a whole new mortgage?  Not part of a larger issue (not divorce). TIA


krnl

Contact the mortgage company to find out the required steps. 


 When I was purchasing a second house in another state I learned that not only does each state have different rules but that a mortgage company that operates in multiple states may be using a standard contract that follows the regulations of another state. I had to make them revise their contract so I could purchase the house in my name only without my husband's signature.


conandrob240

ok. I know it’s legal in FL just don’t know where to start now that it’s already purchased. Should have thought it through better at purchase 


Formerlyjerseyjack

There are two issues, the deed and the mortgage. You would likely have to apply for a re-fi while using the income of the remaining people as the basis. You may be able to do the new deed without a lawyer but it could be a future problem on title insurance.


conandrob240

okay. If it requires a whole re-finance I’ll probably just forget it or do it later on. 3.15% mortgage for next 6 years on a 2nd home probably isn’t worth messing with


Formerlyjerseyjack

Before giving up, I would inquire if the mortgage company will accept the change without a re-fi.


A telephone call isn't expensive.




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