Assume or refinance after divorce?Should I assume mortgage or refinance? My name is NOT on the mortgage OR the title, but I was awarded the home in our divorce. WellsFargo is willing to let me assume the loan, for about $2000 in fees. But I will be stuck with a 5.25% interest rate... My credit was 748 last I checked, I feel I could get a better rate.Worthington Federal Bank gave me good faith estimate a few months ago for a no-closing cost loan for 86,880 at 3.875% (4.993% APR)The loan originated 04/09, it's 30 years fixed at 5.25%. The original loan amount was 86000. I currently owe 82000. The house was appraised at 88000 when we bought it, but only so the closing cost would be able to be figured in. The 'unofficial' sales price was 75000... I'm concerned it may not be appraised for enough either way.I'm not sure which route to go... I really have no cash or equity to use for closing costs (or WellsFargo's fees). My ex-husband has been hounding me about it, because he wants to move on with his financial life.February 20 2012 - Montevallo00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.