FAQs

I was awarded the house in the divorce, but I'm not on the mortgage. What can I do?

If you’ve been awarded the home in a divorce but aren’t on the current mortgage, you have a clear path to take full control of the property and the loan.

Step 1: Become a “Successor in Interest” First, you will need to contact the lender to be confirmed as a Successor in Interest. This officially recognizes you as the property owner following a qualifying transfer, such as a divorce.

• What it does: It grants you legal access to the loan’s information, allows you to make monthly payments, and lets you discuss account details with the servicer.
• What you need: You will typically need to provide legal documentation to the lender, such as your final divorce decree and a recorded quitclaim deed.
• What it doesn’t do: Being a Successor in Interest does not automatically remove your ex-spouse’s name from the loan, nor does it make you personally liable for the mortgage debt.

Step 2: Take Over the Mortgage Once your Successor in Interest status is confirmed, you can explore options to put the mortgage entirely in your name and release your ex-spouse from liability:

• Loan Assumption: You can apply to assume the existing mortgage. If approved (which requires standard credit and income qualification), you take over the loan’s current rate and terms.
• Refinance: If the current loan is not assumable, or if you need to adjust the terms or access home equity, you can apply to refinance the home with a brand-new loan in your name only.