Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago on . Most recent reply
Divorce settlement - mortgage transfer
Hi All!
I am trying to support a friend (spouse 1) who is going through a divorce with spouse 2. It seems that spouse 2 is leaving the house for spouse 1, but would like to remove their name (spouse 2) from the loan. Unfortunately, spouse 1 would likely not be able to get a loan on their own, and would have to sell the house upon receipt. My desire is to step in and potentially purchase the house / take over the mortgage so spouse 1 can continue to live there, and I can rent out the other rooms (hopefully giving spouse 1 a good deal on rent and some monthly payment) The current loan is also at an awesome rate (2.75) so it would be a shame to lose that. Is there a possibility to keep that rate, while taking over the deed / mortgage. Will spouse 1 need to reapply for the loan after the divorce process is closed? I’ve never encountered this scenario, so I’d greatly appreciate some guidance!
Thanks for your consideration!
-Sam