I've been hanging out on GQ II for awhile, but unfortunately, I'm joining you fine folks on the path to divorce.<P>My question for you pros out there regards my housing situation. We're going through an uncontested divorce soon. We bought the house on an FHA loan with very little down just under two years ago. There is virtually no equity in the house, though we've been paying into it for all this time.<P>My W doesn't want the house, has already moved out, and I've been paying the mortgage for the last 4 months. Here's the thing: She wants her name off the mortgage entirely. I've suggested that it should be enough for the judge to declare me financially responsible for the house, get a Quit Claim for her, pay her half of whatever equity we've built up, and be done with it. She wants to either sell the house (a losing proposition, there is much work to be done and the equity wouldn't even cover the realtor's commission), or have it re-financed in my name only; another losing proposition, since interest rates have gone up 1 and 1/2 percent since we bought it...in other words, I couldn't afford to stay there!<P>What do I do in this situation?

You can have her removed from the loan but it's only cosmetic. As long as you both signed the loan papers, the mortgage company would continue to hold her responsible. But, you can do a special warranty deed that would award the house (and any amount owed as well) to her in the event you defaulted on the loan. The only way to totally absolve one person from the loan is to pay it off, one way or another.

Thanks Patient. How can I find out more about this warranty deed? I'm admittedly clueless when it comes to this stuff! I'm just trying to get through this without too many snags.<BR>

talk with your lawyer!<P>then talk with a bank about refinancing<BR>the loan in your name!<P>start asking experts in your area <BR>who can help you get answers.<P>yes, you should have a lawyer.<P>WIFTTy

Thanks for the input. One thing we both agreed on from the get-go was that we wanted to avoid lawyers at all costs, so we're trying to go without one. What about a mediator?

If I'm not mistaken, the warranty deed is kind of a standard thing in divorces - at least in Texas. You can get legal paperwork from a number of sources - even an office supply - but you really should have an attorney look over anything and everything you put together prior to filing it. You might ask a real estate agent for a better answer...

cjack,<P>I totally agree with wanting to avoid lawyers! But on this issue you really need to consult with one. Whether you both go or not is up to you. But it is a very important issue and not something you just want to wing.<P>Mike