you will have to be able to refinance by your self or pay your wife from another source then refinance the basic note

Simply put….Make her an offer!! The worst she can do is say “No.”

The easiest way is to refinance in your name only with the needed amount to pay your ex-wife off as cash out. Depending on which state you live in, you might want to wait until the divorce is over OR have your attorney put it in writing that by giving your ex the $35k, she will be releasing any and all interest in the property.
If you don’t refinance into your name only, the mortgage will always be in BOTH your names. Which could complicate things in the long run. The only way to get her off the mortgage is to refinance. Remember, you must ensure that you are protected when you refinance so I would consult your attorney on whether or not she still has rights to the property if you cash out and pay her off before the divorce is final.

Hope this helps!

If her name is on the note, and mortgage you need to refi., and do cash out for what she gets. Her name can only come off the note with a refi.

She probably won’t sign a quit claim deed if someone tells you to do that.

The divorce decree might spell out who gets what but it’s totally up to you guys to get each other’s names off the assets and liabilities of individual loans and leases. The problem with refinancing is that the decision to loan to you which was once made with both of your incomes will now be made on only YOUR income so your interest rate may be higher if you even qualify. Stay away from a 2nd mortgage / equity loan to buy out your ex unless that’s the only option you have. Talk to your banker about the situation and ask about your options. Shop around for rates and terms and stay away from adjustable rates. You want a 15-30 year fixed rate mortgage. Consider paying your ex in installments for the $35K equity but get her off the loan and deed of that house ASAP. The odds are refinancing a mortgage will be at a higher rate than you currently have.