How to Remove a Name From a Joint Mortgage

My ex-spouse and I bought a house 4 years ago. I need to leave. How can I remove my name from the mortgage?

My ex-spouse and I bought a house four years ago and the loan and deed are in both names. I wish to leave and sign a quitclaim deed. Our mortgage company will not refinance because we owe more on our home than what it is worth due to the drop in market prices in our area. What are my options to remove my name from the mortgage?

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Bill's Answer
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Bills.com Team
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By Bills.com Team
October 1, 2008

Highlights


  • Review the difficulties involved in removing a name from a mortgage.
  • Understand that refinancing is the best option for changing the names on the mortgage.
  • Shop around when looking for a mortgage.

Thank you for your question about ways to remove a name from an existing mortgage.

Refinancing is the Primary Method of Changing the Names on the Mortgage

The situation you describe is one faced by many divorcing couples, especially with the downturn in the housing market which has made refinancing much more difficult for many consumers. There are four options to remove liability for a co-signed or joint loan:

  1. Refinance the loan and not include a party in the refinance.
  2. Sell the property in question, which will extinguish the loan liability, unless there is deficiency balance.
  3. File for chapter 7 bankruptcy.
  4. Allow a strategic default. However, all parties on the loan will be responsible for any deficiency balance.

A quit-claim deed removes a party’s interest in the property by changing the name(s) on the title. However, executing a quit-claim deed does not eliminate a co-borrower's financial or legal liability for the loan. The property’s title is separate from any mortgage or deed in trust that encumbers the property.

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Reasons the Lender Does Not Want to Remove Someone from a Mortgage

Your lender is unlikely to remove your name from the loan voluntarily. Mortgage contracts are written to make it difficult or impossible for the parties to change the terms or conditions. Why? The mortgage originator estimated the risk for the loan based on, in the case of a joint mortgage, both borrowers’ credit scores, incomes, and debt-to-income ratios. With only one person responsible for the loan, the lender is in a riskier position.

The fact that you owe more on the home than it is worth makes it even less likely the lender would remove your name from the note, as the lack of equity increases the probability that you and your ex-spouse will default on the mortgage. Even though your ex-spouse may have every intention of keeping the loan current, the lender will want as many people as possible liable for the loan so that it has a higher chance of collecting on any deficiency balance that results in case of default and foreclosure.

Shop Around for a Loan

While your current lender may not be willing to refinance your loan, you may be able to find another bank willing to lend you the funds needed to refinance. Finding a loan in today’s market can be difficult, especially if your ex-spouse has had any credit problems in the past. His or her credit is what’s important since your spouse is the one who will be applying for the refinance loan. However, contact several lenders to discuss your situation and find out what options, if any, they offer.

It is unlikely you will find a lender willing to lend you more than the home is worth. Because you are upside-down on your current mortgage, you may need a large down payment available in order to obtain a refinance loan. In addition, you will need to compare the terms of your current loan with those of any refinance offered to make sure that the new terms are competitive with those of your previous loan. To learn more about refinance loans, I encourage you to visit the Bills.com home refinance page.

Tough to Refinance

As I mentioned, finding an affordable refinance loan may be an uphill battle given the current state of the U.S. economy and housing market. Barring your current lender agreeing to voluntarily remove your name from your and your ex-spouse’s current loan, the best thing for you to do may be to leave your name on the mortgage for the time being. Once the housing market recovers from its current depressed state, your home’s value should increase, hopefully providing you with enough equity to refinance the home at a more favorable rate without the need of a large down payment.

If your ex-spouse makes the payments on time each month, having your name on the mortgage will improve your credit rating, allowing you to begin establishing your own credit accounts and thus building credit independent of your ex-spouse. If possible, have your ex-spouse keep records that prove he or she makes the mortgage payment alone. That way, you increase your chances of not having the mortgage payment counted as part of your monthly obligations when you go to qualify for a loan of your own.

There is no clear solution beyond a refinance loan, which may be out of reach at this point. Even if you are not able to remove you name from the loan, this mortgage should not cause you any problems as long as your ex-spouse continues making the monthly payments on time.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com

247 Comments

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  • 35x35
    Oct, 2012
    Suzanne
    Left in 2005. My name is still on the the deed to house and on all 3 mortgages. He is lazy and has not paid any on the loans in 60 payments. He has control of house and I want out! I used to have 752 credit score and now I am scared to look cause he screwed me over once again. What do I do or can I do?
    0 Votes

    • 35x35
      Oct, 2012
      Bill
      It sounds like your options are very limited. If your name is on the mortgage loans, then your are jointly responsible for all the payments. If payments have not been made for five years it seems likely that the lender will foreclose on the property. Is the home worth more than the balance on all the loans? If so, you might be liable for any deficiency balance.

      You can speak to the lender about reaching an agreement for a short sale, but that will involve getting his (I am not sure of your status) approval. If the house will go to foreclosure, then you will need to deal with any money owed after the sale. I recommend that you speak with a lawyer about your options.
      0 Votes

  • 35x35
    Jan, 2012
    Jim
    Over several years my bank has repeatedly refused to refinance my home to remove my ex-wife's name from a joint mortgage as decreed in the divorce. The home has never been close to underwater and I've never had any issues with qualifying. In fact the same bank approved me alone on a new mortgage for several times the amount of this one. Clearly, they simply don't want to lower my interest rate from 9% because it's not in their best interest to do so. Isn't this bad faith lending and they get away with because they can since their not held accountable? Money and power gets what money and power wants!
    5 Votes

    • 35x35
      Jan, 2012
      Bill
      What reasons have lenders given you for not approving a refinance? You mentioned you have positive equity, but what is the LTV on the property? You mentioned you qualify, but what is your credit score, credit history, income history, and DTI ratio? Also, when it comes to refinances, it pays to shop! Start with the Bills.com mortgage calculator to learn how much you can save, and to receive no-cost, no-obligation, no-gimmick quotes from pre-screened lenders.
      0 Votes

  • 35x35
    Jan, 2012
    Pamela
    I was divorced in 2006. Our divorce settlement states that my name must be removed from the mortgage and deed of one of my ex-husband's properties. My name was taken off of the deed but remains on the mortgage. I found this by wanting to refinance and couldn't due to poor credit thus realizing I am still on the mortgage, which has been up for foreclosure and late payments. Do I have legal grounds for removal if it was part of our Divorce Settlement? I asked him to assume the mortgage and have my name removed. I read the above reply , and I am wondering if he has a legal obligation to uphold our agreement? He does pay the mortgage on my home I live in now and has put my name on the deed, these are two separate properties, the first one has ruined my credit and don't really know what to do, Please help, thank you.
    1 Votes

    • 35x35
      Jan, 2012
      Bill
      Any cause of action you may have is against your spouse for failing to comply with a court order — the divorce agreement or decree. You do not have a cause of action against the mortgage servicer because it is not a party to the divorce decree.

      If the jointly mortgaged property was and is upside-down, then your spouse has a legal defense for failing to comply with the order, in my opinion. If your spouse just never got around to refinancing, and the property is not upside-down, then I do not see a legal excuse. The fact that one or more of your spouse's properties is entering foreclosure implies a refinance was impossible, financially.

      A deed conveys interest in the title to the property. The title is the bundle of rights that we call ownership. The title and the mortgage are separate documents, and although related, do not have a legal impact on the other. For example, if I own a property, I can use a deed to change the name of the title to my spouse, child, or best friend. My doing so does not change any mortgage I may have on the property, or the rights the lender has against me.

      You asked what to do. We explained your four options in the original answer above. Consult with a lawyer in your state who has real property or bankruptcy experience. I am not suggesting bankruptcy is the best option in your situation — I do not know enough about your circumstances to offer an opinion which option is best. A bankruptcy or real estate lawyer will analyze all of your facts, and will advice you accordingly.
      0 Votes

  • 35x35
    Jan, 2012
    OZ
    I agreed to a mortgage to assist a friend and his wife. Now my mother is divorced and I want to assist her. Is there any way to get my name of the mortgage because they have no issue with it?
    0 Votes

    • 35x35
      Jan, 2012
      Bill
      You have four options to remove your name from a joint mortgage: refinance, sell the property, file for bankruptcy, or allow a default that will result in a foreclosure. We discuss each of these options in the original answer above.
      0 Votes

  • 35x35
    Jan, 2012
    Anthea
    I bought a house with another individual 2 years ago. I am not married or in an intimate relationship with the person. Recently my co-owner declared Chapter 7 Bankruptcy and included the mortgage, leaving me solely responsible to the loan. However, his name still remains on the mortgage. The loan is current and I plan on keeping it that way. However, I no longer want his name on the loan or to binded contractually with him in anyway. I've tried to talk to him about "Reassumption", but he did not react well, at all. There is about 30K of negative equity in the house, but I have no plans to move or try and sell, and the mortgage is current and paid regularly. What are my options for getting his name off of the loan, if he is not willing to work with me civily.
    0 Votes

    • 35x35
      Jan, 2012
      Bill
      Unfortunately, your options are limited to the four we outlined above. Your lender will almost certainly not agree to remove his name from the loan. A more important consideration than sharing the debt obligation is if his name is on title for the home.

      I would recommend trying to refinance the loan, and since you are underwater this would typically be difficult but you may be able to refinance under the new HARP Loan program offered by the Federal government. This would pay off the old loan shared by your friend, and you would start over with a new loan.

      Bills.com has plenty of great information about HARP, or you can apply for a mortgage quote on Bills.com. Good luck, and make sure that you check to see if you can remove your partner from the title first.
      0 Votes

  • 35x35
    Jan, 2012
    Teresa
    My son and his girlfriend bought a house together. They no longer live together. A few years she had a restraining order against him and he's no longer allowed in the house. He pays her child support. She works and gets money from the state due to my grandson being special needs child. She does not always pay the mortgage on time and sometimes it's two or three months late. She has someone else living with her. How can my son get his name off the mortgage?
    0 Votes

    • 35x35
      Jan, 2012
      Bill
      Please reread the original answer above to learn the four ways one can remove their name from a joint mortgage.
      1 Votes

  • 35x35
    Jan, 2012
    Judene
    My divorce was final in August 2011 and my ex has been attempting to refinance a rental property we own in New Mexico (we live in california). The divorce decree gives him full ownership of the home, although I have not signed a quit claim (yet) and won't until my name is off the loan. However, we have been told that there is some new federal law that prohibits refinancing after divorce to remove the ex's name, and that his only option would be to sell the house. I cannot find ANY info about this new law. Any help?
    0 Votes

    • 35x35
      Jan, 2012
      Bill
      Please return to the person who told you about this "federal law" and ask him or her to cite their source. Then please send the citation to me so that we can share this with other Bills.com readers.

      I would be very surprised if such a rule exists.
      1 Votes

  • 35x35
    Dec, 2011
    Lissa
    My ex husband and I divorced earlier this year, and I gave up the house in the divorce decree. It was a co-petition and the agreement is that I am held-harmless and he is responsible for the morgage on his own. Unfortunately, he cannot refinance the home due to income issues or sell it for the loan balance. The income issues are appearing now and he is struggling to make payments. (he says that the payment is now 85% of his income) My questions are: 1) Will GMAC look at his income alone, not mine, since I am no longer legally responsible? (even though it is still on my credit report, and will likely remain there until a miracle occurs) 2) Should I remove my name from the deed if I am still financially responsible, according to GMAC? 3) Is there really no possible way, no law or government program that can force a removal of my name from the loan? 4) Could he give the house back to me, even though the court shows that it is his and not mine?
    1 Votes

    • 35x35
      Dec, 2011
      Bill
      We hear this question frequently at Bills.com, and unfortunately I cannot offer the answer you want to hear.

      There are two legal issues in play here. First, you and your then-spouse signed a contract with a lender for a mortgage or deed in trust. These types of contracts are written in a manner that makes it very difficult for the parties to exit. Also, I have yet to see a mortgage or deed of trust that contains a clause that allows one co-borrower to exit the contract if the borrowers split-up or divorce. As you mentioned, one way to terminate a mortgage is to refinance.

      Your second issue is the divorce decree. Yours is typical: One party gets the house and is ordered to refinance a joint mortgage. However, given the drop in housing prices and/or a weak job market, the party in the house cannot refinance. The order from the court is binding on the divorcing parties, and not third parties. You or your ex-spouse can wave the decree in front of your mortgage servicer all day, and their response will be, "We are not a party to this order, and therefore do not care what your judge ordered you two to do." On to your questions:
      1. I assume GMAC is your mortgage servicer. I also assume you two applied for a short sale or mortgage modification. GMAC will want financial statements from all signers of the contract.
      2. Whose name is on the property's title is irrelevant for the purposes of refinancing or qualifying for a mortgage modification. Also, if you have liability for the loan, I see no advantage for you to remove your legal claim to the property, which is what the title gives you. I do not see an upside for you to sign a quitclaim deed for the property to your ex-spouse at this time.
      3. Talk to your divorce lawyer to learn if there are any persuasive court cases in your state where a divorced spouse was able to convince a court to alter the terms of a home loan contract. I doubt he or she will find anything, but it is worth the time to research the issue. One option is to file bankruptcy. Again, consult with a lawyer about this option and for which chapter you qualify.
      4. The divorce court ordered both of you how to divide your assets. You can always go back to the court with a pleading that expresses what you want, and the reason why. If both parties agree to the change, the court almost certainly with go along with your idea.

      Consult with your divorce lawyer to discuss these ideas.

      1 Votes

  • 35x35
    Nov, 2011
    If bankruptcy is my singular alternative for removing my name from mortgages I have already quit claim deeded to my ex-wife, can I file for bankruptcy in Texas to remove my name from mortgages on properties in Ohio?
    1 Votes

    • 35x35
      Nov, 2011
      Bill
      Bankruptcy is done through the federal court system. When filing for bankruptcy you must be careful to include all of your debts. I recommend that you discuss your alternatives with a bankruptcy lawyer.
      0 Votes

  • 35x35
    Nov, 2011
    Jerry
    Last year my ex-wife and I decided to stop making payments on our house when we divorced so we could start the short-sale process. This was an agreement we both made and documented. Now that the foreclosure process is beginning, she decided to file for bankruptcy, which will put the sole responsibility of the foreclosure on me. Here in Florida there is a law that my house can no longer be listed because she is filing bankruptcy. Not only will I be the only party with the burden of the foreclosure, but I can't even continue to try to sell my house in the process. I feel like I have no autonomy in this situation. Is there anything I can do?
    0 Votes

    • 35x35
      Nov, 2011
      Bill
      I recommend that you speak with your divorce lawyer regarding the alternatives that you have in regards to the property and your wife's obligations.
      1 Votes

  • 35x35
    Nov, 2011
    MIKE
    I went thru a divorce 3 years ago and was ordered to refinance with a monetary gift of 2500 from my ex within 18 months. Since then my house has gone 35K under water and I can not refinance. Do I have to pay that money back even tho I used it to make improvements to the home for the purpose of refi, and can show 5 times I did the appraisal paid the fees and each time was deneid due to the house value on a constant slide?
    0 Votes

    • 35x35
      Nov, 2011
      Bill
      I cannot answer questions about the details of a divorce agreement I have not read. Consult with your divorce lawyer to learn how courts in your jurisdiction have handled issues such as yours.
      0 Votes

  • 35x35
    Nov, 2011
    Jane
    I am married for 10 years but planning to file a divorce soon due to irreconcilable differences. Then, just last week my husband forced me to sign for a joint loan for he is going to buy a new car but I didn't sign because I don't want to have a future credit problems. So, he tried to file a loan without my signature on it. So, my question is Am i still accountable for payments once I got a divorce even if I didn't sign the papers?
    0 Votes

    • 35x35
      Nov, 2011
      Bill
      It is my assumption that your husband tried to force you into signing a loan agreement, which you refused to do. If you did not sign any loan documents then you should not be responsible for repaying the loan and your credit report should not include this loan on your credit report. If you live in a community property state, things could be a bit more complicated, regarding any debt taken on by the marital community prior to legal separation.

      If you suspect that he fraudulently placed your name and information on the loan documents, you must raise that issue with your divorce lawyer. I strongly urge you to meet with a divorce lawyer ASAP. It is the best way for you to protect yourself and your interests, especially when your spouse is engaging in questionable behavior.
      0 Votes

  • 35x35
    Nov, 2011
    Paul
    My spouse and I are still married but are living in separate houses. No divorce or separation papers have yet been filed. The house we own together is up for sale and she wants to sell it 20,000 below appraisal value(it is listed 3,000 below now). She has stated that she is going to file papers in court so she can sell it cheaply as possible without my permission, because she is making the full payments on the house. I am a full time student with no viable income but for 10 years I made the house payment. Can she do that?
    0 Votes

    • 35x35
      Nov, 2011
      Bill
      A normal sale is executed when all parties on title agree to the sale. It is not clear under what grounds she is filing suit. A divorce decree can require the sale of a house. Since you indicated that your wife is considering taking legal action I suggest that you consult with a lawyer.
      0 Votes

  • 35x35
    Nov, 2011
    Alicia
    On November 5th of this year I will be divorced for 4 years. In the divorce my ex-husband got our house. He is refusing to refinance the mortgage. The house is on the market but he is asking way too much for it and therefore it has never been looked at by an interested home buyer. He has had me sign some insurance checks for remodeling of the house but has never cashed the checks to pay the workers. I have tried everything that I can think of to get my name off of the house with out ruining my credit (which I am proud of my score). Thankfully he is up to date with the payments but it is difficult to move on with my life with my name on this house. No one in my mortgage company will help me or give me advise on what I could do. Please help!
    0 Votes

    • 35x35
      Nov, 2011
      Bill
      Unfortunately there is no solution that removes your name for the joint mortgage, besides your ex-husband either refinancing or selling the property and paying off the loan. In general, this type of issue would have been best addressed during the divorce proceedings with specific steps taken to guarantee the removal of your name from the loan.
      0 Votes

  • 35x35
    Oct, 2011
    Crystal
    My divorce was finalized in August of 2010 & I agreed to give my ex the house without asking for anything in return (aside from he assuming the note on the house). To date, he has still not assumed or refinanced the mortgage. He has lived there this entire year & he has paid all the payments on the house. My question is, with the year ending soon, do I still get to claim ½ of the interest deduction on my taxes this year since he won’t finalize the paperwork & I'm still legally responsible for the loan?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      If the mortgage is joint, and the mortgage servicer issues a Form 1098 that is in your name and your ex-spouse's name, then you have an argument in favor of claiming the deduction. However, as an equity question, it is not fair for you to claim half of the deduction, and thereby deprive your ex-spouse of both halves of the deduction, because you did not make any mortgage payments. Consult with your divorce lawyer to discuss this issue.
      0 Votes

  • 35x35
    Oct, 2011
    Vanessa
    My ex-fiance broke up with me and asked me to move out. I moved out and got a place of my own that I am renting. My name is on the deed and the loan and now he has stopped paying the mortgage in an attempt to ruin my credit. I have tried talking to him and even offered to take my name off the loan and deed and I want nothing of the 10 years I put into the house. I just do not want to deal with him anymore. But he said he only wants my name off the deed and won't refinance to take me off the loan. I am not an idiot so I will not agree to that. But short of letting him ruin my credit, what other choices do I have?
    1 Votes

    • 35x35
      Oct, 2011
      Bill
      Please reread the original answer above for a discussion of this issue. In the situation you described, you have five options:
      1. Pay the mortgage yourself to preserve your credit score
      2. Motivate your ex-fiance to pay the mortgage
      3. Convince your ex-fiance to refinance
      4. Make your ex-fiance agree to sell the property
      5. File for bankruptcy

      Your anecdote illustrates why I recommend against joint loans and co-signing on loans.

      0 Votes

  • 35x35
    Oct, 2011
    Diane
    If it states it the divorce decree he is to have the house and I hold no equitable value after the divorce, is a quick claim deed needed to have my name removed from the deed? I realize he will have to refinance to have my name removed from the mortgage as the bank seems to have no interest in what the decree states. Unless you know of another way? Thank you. Diane
    1 Votes

    • 35x35
      Oct, 2011
      Bill
      Signing a quit-claim deed does not remove a name from a mortgage. A quit-claim deed transfers whatever title rights a person has in real property to another, and nothing more. As you stated, the bank does not care about the arrangements the two of you make with each other. It cares about the contract the two of you made with it. Refinancing is the only way to remove your financial responsibility to pay the loan, aside from filing for (and qualifying for) Chapter 7 bankruptcy.
      0 Votes

  • 35x35
    Oct, 2011
    John
    My sister and I bought a house together - both of our names are on the loan and the title. She wanted to take her name off both items so I refinanced by myself (her name isn't on any of the refi loan documents or the new "Note") and I'm trying to close. The lender is asking her to sign a deed of trust and a California Fair Lending Notice. Is this correct? She's worried because she thought she wouldn't have to sign anything and on the deed of trust she's listed in the borrower section. There is a section in the deed of trust that states "any Borrower who co-signs this Security Instrument but does not execute the Note... (b) is not personally obligated to pay the sums secured". The lender says she has to sign since her name is still on the title and she can file a grant deed (which includes a transfer tax) Could we have avoided her having to sign anything if she had done a quitclaim deed first and then having me refinance the loan by myself?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      The answer to your question is yes.
      0 Votes

  • 35x35
    Oct, 2011
    Tom
    Currently I have a mortgage owing about $280k, the house value at about $420k in the current market and the contract ends next April. The mortgage have two owners on the title, my ex-wife and myself. We brought the house together in 2002 and we separated in 2007. She moved out since the separation and I been paying all the costs since. I don't know about all the legal issues, I just thought at the time if she moved out the house belong to me, but the bank doesn't think so and she won't sign the deed to remove her name. Infact she wanted half of the equity but she didn't pay anything for over 4 years. Is it possible for me to get another mortgage or refinance with another different bank under my name and payoff the existing mortgage with my ex-wife? So the house and the mortgage is only under my name?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      Consult with a lawyer who has family law experience — perhaps the lawyer who represented you in the divorce — to learn more about your rights and liabilities in this situation.
      0 Votes

  • 35x35
    Oct, 2011
    Jon
    I want to refinance my house that I currently am primary while my sister-in-law as co-signer. My wife has been working a steady job for the past year and will help with the payments. Due to some bad circumstances (sis-in-law losing her job, in middle of divorce where husband moved out already), we are wondering if we can remove her name without her needing to sign a quit-claim deed? My wife was a third party signer on the original loan. So it would be, me (still primary), my wife (now co-signer), and remove my sis-in-law as co-signer. Is there any downfalls for doing this?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      Readers share with Bills.com an unending stream of laments regarding co-signing loans. Loan co-signing benefits lenders by spreading liability to multiple parties, but does nothing for the borrowers aside from allowing some to qualify for a loan. If one of you alone qualifies, then you will save yourself countless headaches in the future by having one name on the loan.
      0 Votes

  • 35x35
    Oct, 2011
    Lindsey
    My ex an me bought a house in March, and I moved out in April. We were engaged, and I kept the ring since he broke off the relationship. He is now trying to refinance, and wants me to sign the quit claim deed. I told him I will sign it when he gives me the $600 I put down on the house and $400 cancellation fee for the cable we had installed. He said keep the ring and sell it and that will pay for it. I told him the ring is a whole different situaion. What should I do?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      I agree with you that if he broke off the engagement, then the ring is yours. Stand your ground and negotiate what you feel is a fair deal.
      0 Votes

    • 35x35
      Oct, 2011
      scoop
      sell the ring, and move on.
      0 Votes

  • 35x35
    Oct, 2011
    james
    I just got a divorce about a year ago and igot the house and in the end. I'm trying to refinance and im good to go on it but my ex will not sign the papers to remove her name from the deed. Is there any other way to get around her from having to sign anything. I need her off the deed fast because its the last thing they are waiting on before we close.
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      Consult with your divorce lawyer to learn if you have any recourse to compel your ex-spouse to sign a quit-claim deed. Alternatively, ask your lawyer if you can make an emergency hearing with a court whereby the title to the property is placed in your name.
      0 Votes

  • 35x35
    Oct, 2011
    Leslie
    If one co-borrower on a loan files bankruptcy and includes the loan, while the other borrower continues to pay the mortgage, what normally happens? Does the bank automatically call in the note? Does the bank just accept the payments and ignore the fact that one borrower is no longer liable? Is it just a crapshoot?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      Normally, the bank expects the remaining borrower to make the payments. It does not call in the note, but will pursue collections against the remaining borrower if payments are not made as agreed.
      0 Votes

  • 35x35
    Oct, 2011
    Evelyn
    I would like to get my soon-to-be-ex-husband off our home mortgage. I have been working 2 jobs to make all the payments. I would like to keep the house but I know for a fact that he will try and fight even though he cant afford to make the payments. We owe more then the house is worth and my credit is bad to refinance in just my name. What can I do?
    0 Votes

    • 35x35
      Oct, 2011
      Bill
      You have two strikes against you: Your low credit rating, and the loan-to-value (LTV) of the property is greater than 100%. If the LTV is less than 125%, then you have some hope of finding a loan if you have a high enough credit score.

      Details matter. What is your credit score? What is the exact balance of the loan? What is a realistic value of the property when compared to similar houses in your area?

      You asked what to do. Read the Bills.com resource Mortgage Refinance Loan and then complete this form to get no-cost, no-gimmick, no-obligation quotes from pre-screened lenders.
      0 Votes

  • 35x35
    Sep, 2011
    Josh
    I used to own a home with a former friend. I got engaged and we agreed that I would move out and he would assume the loan under his name. He never sent in the assumption paperwork and stopped making payments after I moved out. I ended up getting sued by the HOA and filed for chpt 7. I was discharged in January of 2011, but the mortgage company its making hard inquiries now on my credit report. I called them and told them that I that I was discharged, they told me even though I was discharged my name will remain on the loan and that they will keep making hard inquiries until I get my name removed either by refinancing or assumption, is there anything I can do?
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      If your Chapter 7 was successful, you have no personal liability for the mortgage, and any credit report activity from the mortgagee should cease the moment your discharge was signed by the judge. Your mortgagee's behavior is illegal under federal law. Consult with your bankruptcy lawyer and share what you explained here. I believe you have a cause of action against the mortgagee, and may see a small settlement offer once the mortgagee's lawyers realize, with horror, what the idiotic lender is doing. Your lawyer, if he or she is entrepreneurial, will see an opportunity for a class-action lawsuit if the mortgagee's bad behavior is widespread.
      0 Votes

  • 35x35
    Sep, 2011
    Brian
    My ex girlfriend and I purchased a home together 6 years ago. Last February she told me she was ending the relationship, was not going to pay her half of the mortgage and file chapter 7 which she has since done. Before she filed, we were in the process of a short sale to get rid of the property and we had both moved out. Because of the bankruptcy, she was unable to close on the short sale. The bankruptcy has not yet been discharged and she is moving back into the property. The plan was to short sell after the chapter 7 discharge, but now she wants to just live there rent/mortgage free until the bank forcloses after discharge. Do I still have ownership rights to the property and is there any way I can force her to short sell so that I can avoid forclosure?
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      Short sales are voluntary, so one co-signer on a mortgage may not coerce another co-signer to agree to a short sale. It is clear your co-signer wants to be evicted.

      Consult with a lawyer in your state who has experience in real property law to learn your rights and liabilities in this situation. Your least worst option may be to file for bankruptcy to avoid the liability for any deficiency balance.
      0 Votes

  • 35x35
    Sep, 2011
    Rachel
    My husband is a co-signer on his Mom's mortgage and she has not been keeping up with the payments which is dragging his credit down. His mom is wanting to do a loan modification, but he refusing to sign in it since she won't sell the house that she can't afford. What are his options if any on getting off the loan?
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      You spouse has two options:
      1. Encourage the other co-signer to refinance the property so that your spouse is no longer involved with the loan.
      2. File for bankruptcy.

      Your anecdote illustrates why I discourage people from co-signing on loans of any kind.

      0 Votes

  • 35x35
    Sep, 2011
    Cas
    I co-signed a mortgage with my ex in 2003 on a home he bought in 1993, but I am not on the deed. I moved out in 2008. He has recently filed for bankruptcy- chapter 13. How does this affect me and how do I remove my name from his mortgage if that's even possible?
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      Consult with a lawyer in your state who has bankruptcy experience to learn where you stand regarding liability. I am not suggesting filing for bankruptcy is your only option, but you you should explore this option, and others, to understand the costs and benefits.
      0 Votes

    • 35x35
      Sep, 2011
      Cas
      Does everyone who files for bankruptcy get it? I ask because he filed to stop a lawsuit against him for a credit card he stopped paying on 2 years ago. He had the money and income to pay it, he just stopped paying it because he just didn't want to pay it. He still blows money eating out, shopping and trips yet filed for chapter 13 the end of June. Is this possible that someone can just choose to stop paying debts even though they have the money to pay them, then file bankrupt?
      0 Votes

    • 35x35
      Sep, 2011
      Bill
      Most people who file bankruptcy themselves, called pro per in legal jargon, are not successful. So no, not everyone who files receives a favorable outcome.

      Stories like yours of spendthrifts who dance from bankruptcy to bankruptcy are, I suspect, the stuff of urban myth. If the bankruptcy trustee believes the person filing is abusing the process, the trustee has the option to deny the filing.
      0 Votes

    • 35x35
      Sep, 2011
      Cas
      I would think most people who have just filed bankrupt do not order calamari appetizers for their pre-teen children, do not upgrade dish network subscription, have premium dating websites memberships, gym memberships or enjoy happy hour several times a week after work. I sat down with him 2 years ago and showed him he has more money at the end of his month than most people do at the beginning of theirs, yet he said he couldn't afford to pay his debts so he just stopped paying them. A few months before filing he took our daughter on a overnight trip for her birthday which cost over $600.... so much for your "urban myth" unfortunately.
      0 Votes

  • 35x35
    Sep, 2011
    Charlie
    i bought a house with a girl 7 yrs ago and she moved out 4 yrs later. during her time at the house she didn't pay for any of the improvements that was made nor did she put any money down on the house. when she moved out i asked her to pay her half of the mortgage but she refused to do so. i had to find some friends to move in and help pay my half while i covered hers. i've been improving on the house ever since and also upkeep (water heaters,roof repair etc...). she is now hounding me to refinance and give her some money, i'm not able to do so at this time but decided that in one year i'll sell it and be done with her. i still have a bunch of things to get done on the home before it's able to sale, she doesn't want to wait though. does she owe me money for non payment for the last three years she's been gone, improvements, down payment? just want to get the facts.
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      You wrote that the co-signer contributed nothing to the down payment, did not contribute to the maintenance and improvements to the property, yet believes she is entitled to equity in the property? On what basis does this person claim to own equity in the property?

      Consult with a lawyer who has family law experience to learn if the co-signer has any legal or equitable claim on the property. I do not see any, but a lawyer in your state who is familiar with your state's statutes and case law may.
      1 Votes

  • 35x35
    Sep, 2011
    Jen
    My ex and I lived with son at our house for 6 yrs with no $$ problems. We divorced and he left but both our names are on the mortgage and title. He is to pay the mortgage in exchange for child support. It has ruined me. -200 pts on my excellent credit now. He lost his job and got multiple payments behind. Now working but damage done. How do I fix this? I didn't know about unemployment or house not being paid for. Thanks Jen
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      If your issue concerns your credit score, see the Bills.com resource Credit Repair Services and Information to learn how to improve your credit score. If you seek to receive the child support owed you, contact your divorce lawyer, or the state agency that handles delinquent child support. If your issue concerns your ex-spouse's name on the home loan, your only viable option is to refinance the loan.
      0 Votes

  • 35x35
    Sep, 2011
    marley
    hello my situation involves singing a mortgage with my step father 13 years ago. my aunt lives in the property and pays every monthly bill. I never claimed it on my taxes. i have sinced left the state and joined the military for the entire 13 years. I have been trying to get my self out of the mortgage for the last 3 years but my step father and my aunt are not cooperating. what are my options. the bank will not release either and is asking me for a w-9. both there credit are not as good as mine.
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      As you found, mortgages are specifically designed to not allow co-signers to exit the contract when they wish. I know of three ways for a co-signer to remove themselves from a loan contract:
      1. The other contract co-signatories refinance the loan in their names only
      2. File for bankruptcy
      3. If the facts support such an action, file a lawsuit against the co-signatories where you claim you were coerced or tricked into co-signing the loan, or that there was some promise on the part of the co-signatories that they would refinance at a certain time in the future.

      You mentioned military service. If you are still serving, consult with your commanders to learn if filing for bankruptcy in these circumstances would endanger any security clearance you may hold. If so, then you can either try to persuade the co-signatories to refinance, or consult with a lawyer about the viability of option No. 3.

      0 Votes

  • 35x35
    Sep, 2011
    scott
    My wife and I are currently getting a divorce. She is not allowed or can not find anyone to refinance the home, but she can afford the payment. She said she has to work for at least 2yrs before being able to refinance. I am trying to get a loan but I can't without getting the home loan off of my credit report. Will the lender take me off of the loan, her dad is a co-signer on the loan and could cover the loan amount if needed. thanks for you help
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      Mortgages are specifically designed to not allow co-signers to exit the contract when they wish. I know of three ways for a co-signer to remove themselves from a loan contract:
      1. The other co-signatories refinance the loan in their names only
      2. File for bankruptcy
      3. If the facts support such an action, file a lawsuit against the co-signatories where you claim you were coerced or tricked into co-signing the loan, or that there was some promise on the part of the co-signatories that they would refinance at a certain time in the future.

      Here, the most viable solution is for your ex-spouse and her father to refinance the property in both of their names, assuming the father has a high credit score, a low DTI, and a stable income history. Otherwise, chapter 7 bankruptcy will remove your liability for the home loan, assuming you qualify.

      0 Votes

    • 35x35
      Oct, 2011
      jeff
      My wife wants a divorce. She voluntarily moved out. I stayed here not having the luxury of getting up and going. She is on the house deed title and mortgage loan. She is entitled to pay her half and the taxes and association fees condo till property is settled? Am i right or can she just move back in with mom and I am financially strained with all the bills?
      0 Votes

    • 35x35
      Oct, 2011
      Bill
      If she is on the loan, then she is responsible, in part, for the payment. If the mortgage payments are not made then she will suffer the collection efforts and harm to her credit rating, along with you. If there is equity in the property, you may want to consider selling, if you can't make the payment on your own.

      It may be worthwhile for the two of you to try and reach a mutually satisfactory solution that preserves both your credit ratings and financial health. If both of you need to find other places to live, in the future, or want to buy another property, then neither of you benefit from having the mortgage go delinquent.
      0 Votes

  • 35x35
    Sep, 2011
    Joanna
    My elderly neighbor refinanced her house a few years back and placed her son\'s name on the title to the house (Deed in Trust, JTWROS) He is now in an unknown location in a foreign country due to financial and legal issues in the U.S.. She would like to get his name removed from the deed with some type of court action. Is this possible? He will most likely not be returning to the country because of creditors, IRS collectors, etc. She has been the only one on the mortgage and paid for the mortgage herself and made improvements to the home without any money from him. She needs to do this to qualify for senior tax relief or possibly get a reverse mortgage.
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      Ask your neighbor to consult with a lawyer to change the title to the property. The situation you described is probably less complex than your neighbor realizes, and may be able to change the title with a quit-claim deed. However, only a lawyer who has access to the existing title and trust documents can determine if a quit-claim deed will suffice.
      1 Votes

    • 35x35
      Sep, 2011
      michelle
      My ex fiance and I built a spec house on the island of Hawaii and are joint tenants on title and on the mortgage. My principal house is in California. He has been claiming his principal home as the house in Hawaii. The house is being short saled. I know that I cannot benefit from Obama's debt relief act since the Hawaii house is not my principal residence, however, my ex fiance may be able to claim it. Since we are joint tenants who reside in different states and my ex might be able to qualify for the debt relief act how does this affect me for tax purposes?
      0 Votes

    • 35x35
      Sep, 2011
      Bill
      I am reluctant to answer specific tax-related questions because I never have enough information upon which to base a useful answer. Consult with a tax lawyer, who will be able to analyze your situation in fine detail, and can advise you precisely.
      0 Votes

  • 35x35
    Aug, 2011
    Anthony
    My girlfriend's sister purchased a home with her boyfriend when they both started medical school in Portland, ME. They recently split up in the last year and she has not been living in the home for roughly 6 months but has continued to make joint payments on the house. Her ex-boyfriend is now finished with medical school and she wants to entirely remove her name off the title and no longer be financially responsible for loan/mortgage payments. Her ex-boyfriend is not being totally cooperative and saying he cannot afford the mortgage and wants her to keep paying on the mortgage for another 8 months. I know laws very state by state and you may not be an attorney but I wondered if you could offer some basic advice of what she needs to do in order to get the ball rolling or if you are aware of any hurdles or pit falls she should look out for. Thanks for any advice you can give.
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      She does not have a lot of leverage. If she doesn't send money and the payment is not made, then her credit rating suffers severely (as would her ex's). The only way to get her name off the loan is for him to refi or for the house to be sold.

      She could play chicken with him and sacrifice her own credit rating, to force him to sell or be foreclosed upon, but that seems drastic. The best she can hope for is to try to work out a compromise, attempting to limit her continued payments and expediting his refinancing or selling.
      0 Votes

  • 35x35
    Aug, 2011
    Shrowen
    Hi, I recently filed for bankruptcy and was discharged from all of my debts, including a house that I co-own with an ex. He did not file for bankruptcy and the mortgage is in default... He is pretty much MIA.... Since both of our names are on the mortgage, what else can I do to release my name from the mortgage and deed? I heard about a "Quit-Claim Deed," will that release my name only from the Deed and if the house forecloses, will that still go on my credit report?
    0 Votes

  • 35x35
    Aug, 2011
    Michele
    I am currently in the process of filing for divorce. My husband moved out and I stayed in the house. The house is in his name, but we have a second mortgage that is in both of our names. I would like to be able to just walk away from the house and all. But how can I do this with a second mortgage?
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      If you walk away, you can't escape responsibility for the loan you are on. You need to deal with the division of assets and liabilities in your divorce. Get a good divorce attorney to advise you how best to protect your interests.
      0 Votes

  • 35x35
    Aug, 2011
    Rich
    My mother and my brother are co-borrowers on 2 homes. Now, my brother wants completely out of both mortgages. One of the homes was recently refinanced and the other is currently in refinancing, but my brother refuses to sign the new mortgage for the second home. What advice could you give me on (a) taking his name off the first mortgage which was very recently refinanced and, (b) taking his name off the second home which is currently attempting to be refinanced? Thank you, your input is much appreciated
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      His refusal to sign does not remove his responsibility to pay or suffer the collections and credit consequences for not paying, as he is on the current loans. If he is weakening your and your Mom's financial position by not allowing the refi, he may be placing himself in greater jeopardy.

      The only way to get his name off the loans he is on is for them to be refinanced. If you needed his income to qualify, then you won't be able to refinance.
      0 Votes

  • 35x35
    Aug, 2011
    donna
    My husband is suffering from severe health issues and has his own health insurance. Thus far, all of his bills have been paid. We are joint owners of a home. If he quitclaims his portion to me, will that protect me from future medical bills if he is becomes unable to pay them?
    0 Votes

    • 35x35
      Sep, 2011
      Bill
      You need to speak with an estate planning attorney, in my opinion. A quitclaim does not necessarily sever the ability of a creditor to come after the asset, at least for a period of time. It may be a good strategy, but speaking with an attorney is the best way to find out how best to protect your assets.
      0 Votes

  • 35x35
    Aug, 2011
    Mike
    My wife and I are in the midst of negotiating the financial settlement portion of our divorce. There's not a lot divide: a home, some 401(k)s and a pension, and a couple of small savings accounts. The issue for us is going to be cash-flow. My wife will be getting the house in the settlement (we have four kids and want things to change as little as possible for them). My wife is suggesting that we refinance the house before the divorce is finalized, with about a $20K cash-out for some needed home repairs and some start-up cash that each of us will require. This will also reduce her monthly payment, which helps her with cash-flow. I'm already on the existing mortgage loan, and based on what I've read above, it's unlikely the lender would remove me from the current loan. My question is, is it a bad idea for me to co-sign on the refinance? My wife is good with money and I don't see a tremendous risk in her defaulting on the loan. What are the downsides for me?
    0 Votes

    • 35x35
      Aug, 2011
      Bill
      The potential downsides are what can happen if she does not pay as agreed. Your credit rating would suffer, if that were to happen, and you would be on the hook for making the payments or being responsible for the defaulted debt.

      You said that you "don't see a tremendous risk in her defaulting." You have to judge the risk and decide it is acceptable compared to the benefit it provides. It seems to me that there is a long way on the risk scale from "not tremendous" to "reasonable and acceptable." Give it some serious thought, factoring in how likely it is that that her income could change and leave you responsible for making payments.
      0 Votes

  • 35x35
    Aug, 2011
    charlie
    My wife and I bought house in 2000 the title is in both names. She wants to refinance the house but I do not show on the loan. Can she get me out of the title of the house?
    0 Votes

    • 35x35
      Aug, 2011
      Bill
      If you are on title, she can't get you off, even if you're not on the loan, without your consent. I believe that she will even need your permission to refinance the home, as you are on title.
      0 Votes

  • 35x35
    Aug, 2011
    JAMIE
    My ex-wife and I have been divorced for 7 years. I am remarried and we still have a house in NC. I live in NY and she lives in OH. I signed a quitclaim (not knowing what I was signing- shame on me) so now the loan is in our names and the house is rented out. All payments have been made and are still being made. We refi’d in 2003, just before the divorce. Now, I would like to take my name off the loan. I understand that she has to refi to do this, but am I due any monies if she refis in her name?
    0 Votes

    • 35x35
      Aug, 2011
      Bill
      When you signed the quitclaim, you gave up your interest in the property. You have no legal claim to any money, whether your ex refinances or not.
      0 Votes

  • 35x35
    Aug, 2011
    Diane
    What about a release of liability form? Will this take a name off a mortgage?
    0 Votes

    • 35x35
      Aug, 2011
      Bill
      If you are asking if your spouse or anyone listed on a mortgage with you can release you from liability, the answer is "No." Your lender is not bound by any agreement you reach with your co-borrower. It will continue to hold you responsible for timely payment on your mortgage.
      0 Votes

    • 35x35
      Aug, 2011
      diane
      Thank you Bill , so I guess I will just have to refinance the house. We have already done a quit claim deed. Now I am trying to remove him from the mortgage. Why does a mortgage co. tell you can do this if it doesn't work or isn't legal? Thank you again for your time. Diane
      0 Votes

    • 35x35
      Aug, 2011
      Bill
      My guess is that someone gave you bad information because he or she did not know better, not out of any evil intent. Refinancing is the best option. With today's low interest rates, maybe you can improve your finances at the same time as solve the name on the mortgage issue, killing two birds with one stone.
      0 Votes

  • 35x35
    Aug, 2011
    Amanda
    I have been divorce for several years. I got the house in the divorce, but both my name and my ex husband is still on the mortgage, even though he has quit deeded the house to me. I am at the point now where I can no longer afford the mortgage, and I am currently three months behind. I have contacted a real estate agent, and due to other foreclosures on my block, I am upside down. If I short sale, my first mortgage is willing to use the Pre forecluse sale program to cover its losses, however the second mortgage company said whatever is not cover they would file a judgment against me. On top of that, since my ex husband is on the mortgage, I need his cooperation and he is refusing. If I file bankruptcy, will it remove my name from all of the mortgages? I really do not know what to do. I have to get rid of the house because there is no way I can afford it until I finish nursing school next spring. Any advice?
    1 Votes

    • 35x35
      Aug, 2011
      Bill
      If the only thing between you and short selling your property is your ex-spouse's cooperation, then consult with a lawyer about filing a lawsuit against your ex-spouse to compel him to cooperate in the orderly sale of the property. If such an action is not viable from a timing perspective, then bankruptcy may be your best option. Consult with a lawyer who has bankruptcy experience to learn if this option is viable for you.
      0 Votes

    • 35x35
      Aug, 2011
      Amanda
      I am planning on seeking adivce from a lawyer. If I do file bankruptcy, will they just take my name off all of the mortgages if they discharge that debt, and just my ex husband's name will remian on the mortgages and then he will be responsible for the house? Or will they sale the home. Also, if I file bankruptcy and have my debt discharged, will it affect his credit?
      0 Votes

    • 35x35
      Aug, 2011
      Bill
      As the original answer above tries to explain, a bankruptcy strips personal liability for a home loan debt. The person who files a successful bankruptcy can walk away from a property and not owe a dime. Other joint borrowers, in joint and several liability states, would have 100% liability for the debt. In other states, they would continue to have a proportional share of liability. Your bankruptcy lawyer will explain this issue in greater detail.

      Bankruptcy impacts the filing person's credit score and report, and no one else's credit score.
      0 Votes

  • 35x35
    Aug, 2011
    Steve
    Why would the opposing lawyer call mine and say "she is off the mortgage note". Background: Trying to enforce marriage settlement agreement. (1) She wants me to sell the house (at a loss of 50%). (2) I want her to pay (Appendix A) the funds due to me. (the money to be used to refiance the house). Clearly, her father, a real estate agent for over 20 years, knows that while you can remove a name from the mortgage, you can not remove a name from the promisary note without refinancing. So what game is her lawyer up to?
    0 Votes

    • 35x35
      Aug, 2011
      Bill
      A real estate agent is not a magician. No one can wave a magic wand to remove a name from either a mortgage or a promissory note. Consult with your lawyer about any factual basis for the opposing lawyer's statement.
      0 Votes

    • 35x35
      Aug, 2011
      steve
      remove the father (real estate agent) from the equation. What he thinks and what he wants is not relevant. Needed an opinion on possible thoughts or diversionary tactics from the opposing lawyer. Calling my lawyer costs $300.
      0 Votes

    • 35x35
      Aug, 2011
      Bill
      Diversionary tactics may be taught in war college but not law school. It is not fair to expect me to understand what legal theory the opposition may be arguing without knowing more about the facts of the situation, where you are in the divorce, the agreement/decree, and the amendment you mentioned. I could spout a thought or two, but without knowing more facts, it would be a waste of your time to read it. Sometimes you get what you pay for when it comes to legal advice, and this is one of those times.
      0 Votes

  • 35x35
    Jul, 2011
    brett
    my girlfriend and her ex-husband have a joint mortgage. she got the house in the divorce. he has yet to sign a quit-claim and now refuses to do so since she and i bought a new house. if their mortgage is assumable can we just let him assume it so we can be done with it? the neighborhood has deteriorated and the property is not worth the loan amount anymore. we just dont want to have to pay 2 mortgages anymore and dont want him to have an opportunity to screw her credit up further
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      Even if the loan is assumable, your girlfriend can't force her ex to assume a loan; he would have to want to do so. Because your girlfriend was awarded the home, she either has to pay the mortgage or sell the home, either working out a short sale or bringing the necessary funds to the table to close the sale. If she doesn't pay on the mortgage, her credit will definitely suffer. A short sale will also harm her credit.

      If the ex is not living up to his obligations under the divorce decree, your girlfriend should make the court aware of that.
      0 Votes

  • 35x35
    Jul, 2011
    Nakia
    I am the second holder of a mortgage(it was a joint refinance) on my grandmother's house. I don't want to be responsible and she has changed the deed without my knowledge to add all of her children. What can I do?
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      Consult with an attorney to fully understand your options and responsibilities.
      0 Votes

  • 35x35
    Jul, 2011
    brenda
    my ex partner refinanced our house with wells fargo withou my consent. both prior mortgages were in both our names. the deed is in both or our names. is this legal?
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      Depends on your state's laws, and if your state prohibits a home loan refinance without the consent of both signers of the original loan. Under common law, there is no prohibition for one of the signers to refinance in his or her name alone.

      A loan is a liability, and does not give the signer of the loan rights to the property. The title indicates who has rights to the property. Consult with a lawyer in the state where the property is situated to learn more about your rights and liabilities.
      0 Votes

  • 35x35
    Jul, 2011
    Stephan
    My now ex-wife and I relocated a little over a year ago, but were unable to sell our home ,so we rented it out to at least cover part of the mortgage. We have since separated and per the separation agreement, I was responsible to meet the mortgage payments (the rent was about $250 short of the mortgage payment). Due to a perfect storm of reduced income (child support and separation), higher gas prices, reduced hours at work, unemployment and the tenant moving out, the mortgage fell into default and is now in limbo as i try to get approved to offer a short sale. She is demanding proof that i applied the rent to the mortgage and is threatening legal action, primarily in retaliation, I think, for the blow to her credit and her future inability to get a home loan of her own. is there anything she can do to keep this from blowing her credit. A refi is out of the question and she can't reclaim the house because it's $4,000 in arrears.
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      If two (or more) people are co-borrowers on a loan that becomes delinquent, then the lender has the right to report the derogatory information about each borrower to the consumer credit reporting agencies. Here, you and your ex-spouse had an agreement whereby you would refinance or sell a property as soon as possible, but due to the drop in housing prices, the property did not sell. She can argue you breached the contract you to had when you divorced. You can argue market conditions, and not your negligence, caused you to become delinquent on the mortgage. Does she have a case? Yes. Do you have a legal defense? I think so, but I hasten to recommend you consult with a family lawyer in your state for a more in-depth analysis of your situation.
      0 Votes

  • 35x35
    Jul, 2011
    John
    I currently still have my name on a mortgage with my ex. She has the deed to the house and a warranty deed of assumption which means she can keep it as long as she is financially. Unfortunately, the house is worth 30 percent less than what she owes and I am waiting for the day the tie bomb goes off and she can't make the payments. There is no way she could refinance or would refinance for the amount owed. If I declare bankruptcy will it remove my name from the mortgage? What other options do I have?
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      I know of three ways to remove a signatory's liability for a loan:
      1. Sell the security for an amount greater than the balance of the loan
      2. Refinance the loan
      3. Discharge in bankruptcy

      I encourage readers with more imagination and legal creativity to comment below.

      0 Votes

    • 35x35
      Jul, 2011
      Mark
      My ex and I have a contract stating she gets the house but must refinance asap to get my name off the lease. If she is unable to refinance she must immediately put the house on the market. She doesn't want to pay the cost to refinance and thinks the house will sell faster and cost her less if she sells it by owner, even though she has the funds to pay it. She has not gotten an appraisal on the price either, which worries me that she may try to sell for more than it's worth. Can I hold her in contempt for not refinancing or showing proof that she can't afford to refinance, and for not actually putting the house on the market?
      0 Votes

    • 35x35
      Jul, 2011
      Bill
      Did you use a lawyer when you got divorced? If so, check with the attorney to see what can be done to either compel her to follow the divorce decree or to take action against her if she does not.

      Do you feel that she doesn't want to sell the house, but is only going to go through the motions? If she is actually trying to sell the house without listing it with an agent, then you should be patient for a period of time, in my opinion.
      0 Votes

  • 35x35
    Jul, 2011
    Lori
    My friend was recently divorced and his ex wife was awarded both of the houses. The Court is not requiring her to refinance or get my friend off of either mortgage. This puts him in a very difficult situation to ever qualify for a mortgage of his own. If my friend refuses to sign a quit claim deed, are there any scenarios where he could have rights to the properties down the road?
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      I suspect there is more to the divorce agreement than meets the eye here. I find it unfathomable and unreasonable for a judge to divide the assets as you suggested, and then not order the spouse taking custody to refinance. The person in question here should consult with his or her divorce lawyer to discuss the refinance oversight. If the judge is adamant about not ordering a refinance, then the person in question should consult with a bankruptcy lawyer.
      0 Votes

  • 35x35
    Jul, 2011
    Ruth
    After reading the answers to some of the comments I have come to the conclusion that I am screwed. I was married to my ex-husband for 4 1/2 years, in that time he managed to turn my life upside down. My ex was on disability when i met him...but still able to make a living.(under the radar) He convinced me to let him start a Real estate llc in my name. He said it was to help me reach retirement at an earlier age. I am no business person, so I trusted his knowledge. We started the business with a line of credit against the property he received from his mother through inheritance. Because he had no income other than social security and disability I had to sign on as a 2nd person on the loan. We bought and flipped houses. 2 were sold for profit...money I never saw. The other 3 are currently being rented by tenants. He still lives in the Home he received from his mother. My name is on the house he lives in and one of the rental properties. During our marriage he became abusive and I discovered hidden throughout the home the evidence of his drug use. After one of his many Overdoses..I moved out while he was still in the hospital and hired a divorce attorney. My attorney took my money and provided no help. As a rsult when my ex got out of the hospital and recoverd he came back fighting. Out of fear I gave in to his demands and gave him everything he asked for. He owns all rights to all properties because I signed a quit-claim deed. I thought it meant I would be released from all responsibility. I cannot believe how ignorant I was. He constantly relapses and I have to remind him every month to make the payments. One mortgage I have no access to because he set it up at a different bank. I don't have a account at this bank. All the houses were put under a different LLc by him after transfer. He has made constant withdrawals against the one account I have access to. He owes more now than the line of credit we were allowed. The creditors are beginning to call me now..because he's out on his drug binges and won't take their calls. I have nothing I am renting a apartment and my only posession is a car with almost 200,000.00 miles on it, and I pray it keeps running because I can't afford to buy a new one. A loan officer from the bank I have no access to called me yesterday to inform me that the payments on that mortgage are now 2 months behind. I of course had no knowledge of this. I explained the situation...he owns all the properties we have been divorced for over a year and I am unable to assume his payments. I am very upset because this is in the beginning stages of destroying my credit. I consider it my obligation and an honor to pay my bills on time every month. Do I even have Bankruptcy as an option, since I have no legal rights to the property?? This is not an avenue I want to persue. I am praying that he will do the right thing and pay his debts. It's thinking like that, that got me in this mess to begin with.:-) Do I have any options at all in this matter??? We tried to refinance the loans to have my name removed and even with all his properties as collateral they would not do business with him. So apparently there is much more going on that even I may be aware of. Thanks for letting me unload.
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      Consult a lawyer who has experience in bankruptcy. I try hard to avoid commenting on anything but a reader's financial issue, but in this case, your ex-spouse's unresolved addiction makes it impossible for you to move forward financially. Bankruptcy is an extreme action, but based on the facts you shared, a Chapter 7 will help you sever the relationship completely, allow you to move forward financially, and stop you from enabling your ex-spouse when you remind him to make the mortgage payments.
      0 Votes

    • 35x35
      Jul, 2011
      Ruth
      Thank you for your response. You just confirmed everything I already knew and needed to hear. Will take your suggestions. God Bless
      0 Votes

  • 35x35
    Jul, 2011
    Betty
    Hi. I was just wondering if my home went into foreclosure and my mortgage got transferred to a Debt collector agency and someone decides to buy my home afterwards, would my credit score still be bad even though my name is off the deed even after someone purchases our old home?
    0 Votes

    • 35x35
      Jul, 2011
      Bill
      Your credit will be negatively affected by a foreclosure that shows on your credit report, independent of whether or not you are on the deed.
      0 Votes

  • 35x35
    Jun, 2011
    sylvia
    I have a joint mortgage with my mother. I moved out of the home a year ago my brother and his girlfriend and my mother are living in the home and payments are made on time. I want to purchase my first home now, but I'm on the loan as primary borrower. Is there any other way besides refinancing? When you do a streamline refinance are you able to do any changes on the names at the time?
    0 Votes

    • 35x35
      Jun, 2011
      Bill
      A streamlined refi is called streamlined because it is simple, easy and requires minimal paperwork. Often, even an appraisal of the property's value is not required. This is because little has changed regarding the facts of the loan. Therefore, you can't do a streamlined refinance with different parties on the loan than on the original loan.

      Aside from having your mother, brother, and his girlfriend refinance, the only way to have the current loan obligation not counted in your debt-to-income ratio for a new home purchase is to provide the lender with a letter of explanation, showing that the current loan is being paid by others. You may have to provide financials on the other people, to prove that they have the means to make the payment without you. While this is the best option to try, lenders are under no oblgiation to accept your letter of explanation. You may be left with no option aside from formally getting off the current loan.
      0 Votes

  • 35x35
    Jun, 2011
    Amy
    I am in a terrible home mortgage situation. A few years after my husband purchased his home (I did not purchase it with him and therefore am not on the deed.), he wanted to refinance the house to roll some credit card debt into the loan. I wanted to become part owner of the house and thus he contacted a lender and proceeded to do the paperwork. I signed as co-signer on the refinanced mortgage assuming that the house would now be in my name; however, that was not the case. The house would be no more mine than when he first purchased it. So at any rate, years pass, we get married, separate, get divorced, and BAM! All while trying to determine the proper way to turn the house over to him or sell it in order to dissolve our shared property, I discover that the house was never mine. Now I am stuck on his house as his backer but I am in no way entitled to the house. Naturally, he has no interest in refinancing it until he is good and ready which will be never, and so I have learned to become very very patient. Now, he plans to file bankruptsy on credit card debt that he has but not include the house. He plans to do this so that he can build a garage onto the house with the money he will save. And still, I am on this money sheister's home loan. He is a thief, a crook, a terrible excuse for an ex (THANK GOD!!!) husband, and I just hope that one day I can get off of his home loan so that I can finally purchase a home of my own and move on with my life since I am now remarried and am trying to rebuild my life. Funny how they say women are vengeful after divorce, but I guess in this case it was the big tough guy who is holding onto his practically impoverished ex for dear life. Pitiful--disappointing--how sad.
    0 Votes

  • 35x35
    Jun, 2011
    Mrs
    Had a similar situation. My husband had signed over the house to his ex, but his credit still tied to the house. we put some pressure on her to refinance the house, she looked into it....and Chase agreed. The underwriter approved the loan two weeks ago and funds went through today. I will ask her how she managed to get approved......because she doesn't have stable employment and lives out of state now! Good luck to everyone trying to get out from under a loan....we know the stress it causes.
    0 Votes

  • 35x35
    Jun, 2011
    Jason
    Me and my ex-wife got divorced and she was awarded the house. She has not been able to keep up with the mortgage and unable to refinance to remove my name off the loan. The lender is threatening foreclosure. If I quick claim deed the house over to her (releasing all interest) and then file bankruptcy will that remove me from the loan and financial responsibility or wait until the house is foreclosed before bankruptcy?
    0 Votes

    • 35x35
      Jun, 2011
      Bill
      When you file for bankruptcy &mdash before or after the foreclosure — does not matter from a liability perspective. However, consult with a bankruptcy lawyer in your state who can analyze your situation in detail, and give you a more precise answer.
      0 Votes

  • 35x35
    Jun, 2011
    Silvia
    My daughter and I purchased a home 3 years ago. The Home was owner financed. She filed bankruptcy in 2009 and did not sign an affirmation agreement as to the home loan. Because her debt was discharged, I want to remove her name from the mortgage loan, is it possible to do that.
    0 Votes

    • 35x35
      Jun, 2011
      Bill
      Refinancing the loan in your name only will remove any joint borrower. Otherwise, there is no legal reason for you to worry about the joint borrower's name appearing on the loan that I can imagine.
      0 Votes

  • 35x35
    May, 2011
    Gar
    So my ex-wife is a German citizen. She's on my mortgage and is planning to move back to Germany in about 3 weeks. The house is mine in the decree, but she never signed any kind of deeds. Everything is current. No late payments or anything. It was an uncontested divorce (i.e., she'll sign anything I need her to before she leaves). What's the easiest way to make sure I can refinance or sell the house at a later time without her being in the country to appear at any closing? Oh, I've got two mortgages. I did an 80/15/5 loan. Both the 80 loan and the 15 loan have her name on them. From what I understand the 80 loan will be fairly easy to refinance. The 15 may be a bit more difficult.
    0 Votes

    • 35x35
      May, 2011
      Bill
      Talk to your lawyer immediately about your ex-spouse signing a quit-claim deed on the property. This may not be necessary depending on the circumstances surrounding the purchase of the home. However, given that she is about to leave the country, and it is far easier to for her to find a notary public here and now than later and in Germany, I would strongly urge you do ask about a quit claim deed now rather than later.
      0 Votes

  • 35x35
    May, 2011
    Julie
    I just found out recently that my husband has not been paying on a second mortgage for the last 10-15 years like he said he was. Now it is over our heads and he has tons of interest added on. He told me he was paying on it and was having it sent to a different address and told me not to worry and he was handling it. So I have been paying our first mortgage down. It is only 50,000 and our second one is like 70.000. I do not want my name on this second mortgage. I may divorce over this, but in the mean time, I don't want to get stuck with his debt he made. What can I do??
    0 Votes

    • 35x35
      May, 2011
      Bill
      It is unclear to me if your name is on the second mortgage. I will assume it is based on the context of your message. If the second mortgage is in your spouse's name only, then he alone has liability. If both names are on the mortgage, you have liability despite your spouse's dishonesty.

      Consult with a lawyer who has family law experience in your state. He or she will explain your rights and liabilities, and whatever action you can take against your spouse regarding his not paying the second as promised.
      0 Votes

  • 35x35
    May, 2011
    Bob
    The only way to remove an X from the loan papers is to sell the house, If the person that wanted the home falls behind or stops making the house paymennts your credit will take a hit, If that happens you can get a judge to order the home to be sold, by then your credit is in the dirt
    0 Votes

    • 35x35
      May, 2011
      Bill
      Refinancing a mortgage in the owner-occupier's name will remove the liability any other signers of the original mortgage. So, yes, selling a property is one way to remove liability from a mortgage, but it is not the only way.
      0 Votes

  • 35x35
    May, 2011
    Eddie
    My girlfriend in Ohio is going through a divorce. Her soon to be ex is living in their house and is 21 months behind on the mortgage. He stopped paying when she moved out. She had a terrible lawyer through her divorce and the divorce decree is still going through the courts. In the decree it states he has two years to get the home refinanced out of her name. He is wanting her to sign a quitclaim deed now. He is saying in the decree that it is court ordered for her to sign it. I know if she signs it she will lose all her rights. So if she does sign it, how much power does the court have if in the two years he does not get it refinanced? What happens if she signs the quitclaim deed and in the near future files for bankruptcy? Will the bankruptcy remove her from the responsibility of the mortgage? I don't know why she just can't wait until he refinances to sign the quitclaim deed. Thanks for any help.
    0 Votes

    • 35x35
      May, 2011
      Bill
      A successful Chapter 7 bankruptcy strips a person's liability for a mortgage.

      A quit claim deed transfers whatever rights a person has to real property to another. If non-occupying spouse signs the quit claim deed, the occupying spouse is freer to refinance the mortgage. In other words, the occupying spouse does not need to involve the non-occupying spouse. However, in some states (notably California and Nevada, and probably the other community property states) the spouse who is not on the mortgage needs to quit claim their rights to a property even if they are not on the mortgage, but I digress.

      The only reason I can imagine the non-occupying spouse would refuse to sign a quit claim deed before the refinance is to preserve some right to approve the refinance.

      Ask your friend to consult with a lawyer who has property law experience to review the situation and advise her of the pros and cons of signing the quit claim deed now. He or she may have a better imagination than I.
      0 Votes

    • 35x35
      May, 2011
      Eddie
      Thank you for your quick response on my Joint Mortgage question!
      0 Votes

  • 35x35
    Apr, 2011
    Adam
    Hi Bill, I am in an odd situation. I am on the title to my mom's house(along with her)the house was free and clear and I got a small mortgage out on it. Now I cannot pay due to financial hardship. Can I take myself off the title and let the bank come after me for the balance or can they still come after the house even if I am not on title. The loan is only in my name. Thanks
    0 Votes

    • 35x35
      Apr, 2011
      Bill
      A mortgage is, in part, a claim against real property. In layman's terms, the land is collateral for the loan. A borrower cannot just wave a pen and remove the lender's claim to the property. Your quit-claim deeding your interest in your mother's property to her (or someone else) will not sever the lender's interest in the property.

      If you or your mother do not make the loan payments, your mother risks foreclosure on her property. Start negotiating with the lender to resolve the debt before it results in a foreclosure.
      0 Votes

  • 35x35
    Apr, 2011
    Sara
    Hi, my ex took a settlement in exchange for the house. In my divorce decree it states that I was to refinanance the house within 6 months, since the divorce has been completed I have been trying to refinance but have been unable to due to not so great credit and my income. Now my ex has filed a suit against me for failing to take his name off of the mortgage. Do I have any leg to stand on? The last thing I want is for his name to be on the mortgage however I am in a catch 22 here with the economy being the way it has been and the housing market. I have rented my home to help pay for the mortgage and I have never ever been late on any of the payments. His name is only on the mortgage not the deed. He actually is responsible for putting me in the position I am in now. My credit was affected due to money we had to spend on a court case he went through and I was left paying on the mortgage for a period of time while he was in jail. Through everything I kept current on the mortgage even by paying it on my credit cards. If anything his name on the mortgage is giving him better credit. Will the courts take into consideration any of the background that has gotten me to this place or how I have tried and successfully kept current on the mortgage? Will I be forced to sell my home? The divorce decree never stated what would happen if I tried to refinance and was not able to. What should I do?
    0 Votes

    • 35x35
      Apr, 2011
      Bill
      My first and last thought here is for you to consult with your divorce attorney. Responding to a lawsuit is serious business, and you need more help than anyone can offer through a Web posting or e-mail conversation.

      In retrospect, your divorce agreement was fatally flawed. Unless you have a great deal of equity and very high credit, few have refinanced successfully. This is especially painful for those left out because the low rates result in lower payments and reduced lifetime cost of the mortgage, but I digress.

      A divorce is a form of contract, and contracts can be broken when it is impossible for one of the parties to complete their end of the bargain. (For example, it is legal for a homeowner to break a contract with a house painter if the house burns to the ground the day before painting is scheduled to begin.) Your defense to your ex-spouse's lawsuit may be the arguments that it is impossible for you to fulfill the terms of the divorce due to the conditions of the housing market decreasing the value of your property and the changing lending conditions making it impossible for you to qualify for a loan. You need to start negotiating a different deal.

      As I mentioned, consult with a lawyer about your situation.
      0 Votes

  • 35x35
    Apr, 2011
    Melissa
    My friend went threw an ugly divorce and her ex has now ruined both their credit. He can't refinance because of it and the courts won't make him refinance either she has tried that route too. Can she bankrupt on the mortgage and if she can will that get her name off the mortgage?
    0 Votes

    • 35x35
      Apr, 2011
      Bill
      A successful Chapter 7 bankruptcy will remove the personal liability for a mortgage.
      0 Votes

  • 35x35
    Apr, 2011
    Kristie
    My ex fiance and I bought a house together and ended up not working out. Things are very civil between us so communication is open. I moved out a year and a half ago and into an apartment. Our ultimate goal was to work things out. That has and will not happen though. Since then he has been paying the mortgage (he lives in the home with renters), the bills, HOA and taxes. He wants to refi for a couple of reasons 1) to lower the % rate on the loan and 2) to remove my name from the loan/title. What are my options? Should I hire a lawyer? I do not believe there is any equity in the home. He and I are talking about him paying me an amount of money (what I paid for the time I was in the house and what I put down) and me signing my name off the loan/title. Another option he suggested is to have me sign off my name and then when the house sells, he would pay me what I put into it. Your thoughts?
    0 Votes

    • 35x35
      Apr, 2011
      Bill
      If your statement, "I do not believe there is any equity in the home," is accurate, then it is unlikely your ex-fiance will complete a cash-out refinance because there is no equity available to cash out. Consult with a lawyer who has experience with either contract law or real estate law. I see two options:
      1. Write a contract between you and your ex-fiance to agree that if there is a cash-out refinance in the future you are first in line for repayment.
      2. Write a contract similar to the above but write it in such a manner that it can be filed as a lien against the property. This will solidify your interest in the property and put anyone on notice you have that interest.

      Which option you chose depends on how much money is involved, your level of paranoia, and how trustworthy your ex-fiance is regarding financial promises.

      0 Votes

    • 35x35
      Apr, 2011
      Torrie
      I was looking the other day on ways to get my name of the mortgage my ex refuses to take me off of and i found abunch of things saying that his new wife could take over my part of the mortgage by me signing it over but i have forgotten what its called there was a word for it that i was going to take to my lawyer about it so i could finally be done with his crap any idea what it is?
      0 Votes

    • 35x35
      Apr, 2011
      Bill
      Ask your lawyer to read your mortgage documents to see if your loan is assumable.
      0 Votes

    • 35x35
      Apr, 2011
      Torrie
      Ok i dont have any papers the ex has them and we went thru a nasty divorce and are still 4 yrs later fighting about custody, he refuses to refinance im going to talk with a bankruptcy lawyer soon which way would be the best to go?
      0 Votes

  • 35x35
    Mar, 2011
    Lynn
    My husband and I refinanced our home in 06. Both the 1st and 2nd mortgage loans are in his name alone. If we divorce would I be legally responsible for payment on either mortgages since it is considered marital property we purchased together during the marriage. Basically, can i just walk away?
    0 Votes

    • 35x35
      Mar, 2011
      Bill
      You indicated you reside in Atlanta. Georgia is not a community property state so you do not have liability for community debts. Consult with a Georgia lawyer who has family law experience to receive precise advice.

      The answer to your question is no if the family court judge who hears your divorce case decides you have no responsibility to pay the loan. Conversely, if the judge finds you have responsibility, then the answer is yes. This means if you divorce you may have to contribute to the mortgage payments depending on the totality of the circumstances. If you are so ordered in your divorce and you do not pay, then your ex-spouse may have a cause of action against you.

      From the first and second mortgagees' perspectives, the answer to your question is no, because you are not a signatory on the mortgages. Therefore, regardless of what a family law judge orders, the mortgagees have no recourse against you if you divorce and your spouse defaults on the loans.
      0 Votes

  • 35x35
    Mar, 2011
    Julie
    I have had a mortgage loan jointly with my mom for the past 3 years. We are in the process of shopping around to refinance and are realizing that my credit score is not great. We're thinking it might be better to remove my name from the mortgage to obtain a better rate on the loan. Is there a negative impact on my credit score if I remove my name from the mortgage? I have never been late on the mortgage payments, but I'm wondering if removing my name would hurt my credit. Thank you!!
    0 Votes

    • 35x35
      Mar, 2011
      Bill
      A person cannot easily remove their name from a mortgage, as most lenders are very reluctant to release any responsible party from the commitment to pay the mortgage. The most effective way to remove your name is to refinance.

      The key question is: Can your Mom qualify for a refinance on her own? If she can, that is the best way to get the lower interest rate, if the loan officer says your credit score is a barrier to you and your Mom qualifying for the refinance jointly.

      Yes, it will hurt your credit score if a timely mortgage payment no longer appears on your report. There are other steps you can take to improve your credit score. If you and your Mom can improve your financial position by refinancing, by lowering your mortgage payment and interest rate, the positives could outweigh any negative effect there is on your credit score.
      0 Votes

  • 35x35
    Feb, 2011
    sheila
    Hi,my husband and I are joint owners of our property and have been for many years. My question is, in order to refinance to get a lower rate, I will not be included on the new loan, does this mean that I lose all my rights as far as being part owner or on the deed? I no longer have income so in order to refinance they will put only his name on the mortgage. thank you !
    0 Votes

    • 35x35
      Feb, 2011
      Bill
      A name on a mortgage does not give that person any rights to the property. A separate document, the title, determines the property's ownership. Consult with a lawyer in your state who has experience in property law to learn what name is on your property's title. Also, consider placing the property in a living trust. Talk to your lawyer about this possibility.
      0 Votes

  • 35x35
    Feb, 2011
    Cathy
    My husband's ex wife was supposed to refinance their home as per the settlement agreement with their divorce. It has been over 6 years and she has not done that and she is consistently late on her mortgage payments with several over 30 days and 1 over 90 days late. My husband's credit is suffering and it feels like we are being held hostage. What can we do? What would happen if he filed for bankruptcy?
    0 Votes

    • 35x35
      Feb, 2011
      Bill
      I see three options for your spouse, none particularly good:
      1. File a lawsuit against the ex-spouse for breach of contract regarding the failure to refinance. If there is a statute of limitations issue or the contract theory does not apply under your state's laws, then consider asking the family court judge for a contempt citation for the ex-spouse failing to follow the court's order for the past six years.
      2. Talk to a bankruptcy attorney about filing bankruptcy to remove your spouse's personal liability for the mortgage note.
      3. Do nothing and hope for the best.

      Filing bankruptcy to boost one's credit is a pretty drastic measure. However, if the ex-spouse defaults on the payments your spouse has liability if there is a deficiency. If the ex-spouse is employed in an unstable industry or employer, or is otherwise incapable of managing her household budget, then bankruptcy to remove the potential liability may be a wise decision. However, it is not without cost, so weight this option thoughtfully.

      0 Votes

  • 35x35
    Feb, 2011
    Becky
    I filed for bankruptcy while going through a divorce in 2007. My ex-husband and I had a joint mortgage as well as a second mortgage. My bankruptcy was finalized in June of 2007 pre-divorce. The mortgage and the second mortgage were discharged in the bankruptcy. My divorce was final in October of 2007. My divorce lawyer had me file a quitclaim deed. In the divorce paperwork it states that my ex-husband did not have to refinance as my financial obligation to the mortgages was dissolved in the bankruptcy. However, I am still on the mortgage. I have worked hard the past four years to reestablish my credit. I have an excellent job and I'm finishing my PhD. I have saved and would now like to buy a home for myself. However, my name is still attached to my ex-husbands mortgage. My credit is still affected by whether or not he is late on his payments. I have spent the last year trying to find someone who can help. My ex-husband has supposedly filled out assumption paper work to remove me from the loan. However, I have tried repetitively to contact the assumption department of the lending agency. I cannot get any assistance. No one ever returns my calls and the lending agency is a major bank in the U.S. I do not understand why my name is still on the mortgage. I understand that a quitclaim deed removes my name from the property deed and not the debt, but didn't the bankruptcy remove me from the financial burden of the debt? To further complicate matters, my ex-husband went through bankruptcy last year. He will not qualify to refinance the home by himself. I feel like I am stuck. What are my options of recourse? Please help!
    0 Votes

    • 35x35
      Feb, 2011
      Bill
      Dig out your bankruptcy discharge and double-check to make sure both mortgages were discharged If so, make copies of your discharge and write a one-page "To whom it may concern" cover-page letter describing the circumstances of the bankruptcy, and that the attached copy of the discharge proves you have no personal liability for the two pre-divorce mortgages and should not be included in your debt-to-income calculations. A smart mortgage underwriter will recognize the facts, and will approve your mortgage application if you otherwise qualify.
      0 Votes

  • 35x35
    Feb, 2011
    Missy
    I am about to get awarded the house after the divorce and the spouse wants to be removed from the mortgage. I do not want to pay closing costs on refinance. Is it my responsibility or can we negotiate (or I insist) that the spouse pays half or all of the closing costs?
    0 Votes

    • 35x35
      Feb, 2011
      Bill
      Since the divorce is not final, it is fair to say that everything is open for negotiation. Consult with your lawyer about your idea to share some of the refinance closing costs with your soon-to-be-ex-spouse. Because I have no insights into the other terms of your divorce, it would be unfair for me to speculate if what you suggest is equitable.

      One thing I suggest you do is to speak with a mortgage lender and see if you are eligible to refinance your mortgage, based on your debt-to-income ratio, loan-to-value, and credit rating. If you are not eligible to refinance, because your home lacks equity, you lack sufficient income, or because your credit score is too low, then you don't want to set the expectation that you will refinance.
      0 Votes

  • 35x35
    Feb, 2011
    dave
    Divorced, still living with ex - house won't sell and need to drop price, ex won't agree to price drop, going to miss market. Don't want to spend anymore on a lawyer. Also - divorce says I am responsible for all bills (mortgage & all utilities) What do I do?
    0 Votes

    • 35x35
      Feb, 2011
      Bill
      You are caught in a bad place. Your ex-spouse has veto power over the price of the house, but is not bearing the ongoing cost of maintaining the mortgage. Were I in such a place of luxury I too would tell you to wait for the market to rebound so that I could enjoy a piece of a larger pie. However, that would be unreasonable and unfair. Your spouse needs to get some skin in the game. If your ex-spouse is going to dictate the house's selling price, your ex-spouse needs to share in the risk. Go back to the negotiating table and modify your agreement regarding the house.
      0 Votes

    • 35x35
      Feb, 2011
      Dave
      If the divorce says that she is suppose to cooperate with broker & price changes and she just won't do it, isn't she in contempt of court? And if so - what can I do? She isn't even on the title to property - homestead rights only, but agreed to split money from sale of house.
      0 Votes

    • 35x35
      Feb, 2011
      Bill
      Difficult to answer your question without knowing the specifics of your situation. My guess, note that word choice, is your ex-spouse co-signed the mortgage, which gives your ex-spouse the right to veto offers. If your ex-spouse is not on the mortgage, and you mentioned your ex-spouse is not on title, then I do not understand the source of leverage.

      Any time a person acts contrary to a court's order, that person is in contempt and is subject to fines and jail time.
      0 Votes

    • 35x35
      Feb, 2011
      dave
      No she's not on the mortgage or title. The dilema is she has homestead rights. So she does need to sign off on price changes, listing agreements & contract. But she is suppose to cooperate with the broker and she is not. Is my only choice to contact my attorney? Or can I go to the states attorney or somewhere else to get her to cooperate without having to foot the bill?
      0 Votes

    • 35x35
      Feb, 2011
      Bill
      I am not a Texas lawyer, and my exposure to Texas law is not in property or tax law. Therefore, I am incompetent to offer any legal advice to you regarding this matter.

      With that important disclaimer in mind, I am somewhat baffled by your statement that your ex-spouse's name on a homestead declaration gives the ex-spouse the power over you the mortgagor (presumably) and title holder to veto the sale of the property. Please see The Basics of Texas Homestead Law and An Overview of The Texas Homestead Law for two good discussions of Texas Homestead Law.

      If your divorce lawyer states the homestead declaration gives your ex-spouse this power, then ask him or her what rights you have to rescind the declaration or encourage your ex-spouse to negotiate in good faith.
      0 Votes

  • 35x35
    Feb, 2011
    Anonymous
    My sister and I purchased a home in 12/2010 but we decided living together was not possible. She will keep the home but I am wondering if it is too soon to refinance to remove my name from the mortgage or if she could go ahead and do that immediately.
    0 Votes

    • 35x35
      Feb, 2011
      Bill
      There are generally no time restrictions on applying for a refinance loan, if you are only trying to refinance a purchase money loan. If you are trying to pull out additional equity from a home you just refinanced, some lenders may make you wait, IF you want to borrow more money, increasing the size of the loan from that of your original loan or if you want to use a higher home value than you used on your original loan.

      If your ex can qualify for a home loan, based on his debt-to-income ratio and credit score, then there should be no problems with his getting a new loan without your name.
      0 Votes

  • 35x35
    Jan, 2011
    Brian
    My wife and I are refinancing this Friday to get her off of the mortgage. We are doing this prior to divorcing and here we are ready to close. After we sign everything she is obviously off the mortgage but what do I do to take her off the title. The closing team for my loan wont do the title, only the mortgage. She wants nothing to do with the house and this only makes our future divorce that much more simple without having to figure out what to do with the house. Thanks!
    0 Votes

    • 35x35
      Jan, 2011
      Bill
      You and your wife need to look into a quitclaim deed. In the quitclaim deed process, your wife will legally relinquish all her interests in the property. You can find a quitclaim deed at a stationery store or you can find one online to download. Even if the form looks easy to fill out, make sure that an attorney reviews the form before it is submitted to the county recorder's office. Also, have the attorney advise you on the proper way to have the deed recorded in your county of residence.
      0 Votes

  • 35x35
    Jan, 2011
    Jen
    My cousin is planning on getting a divorce and has a joint mortgage. She can afford the payments after separated and has perfect credit. Can her husband just voluntarily take his name off or does she HAVE to refinance?
    0 Votes

    • 35x35
      Jan, 2011
      Bill
      Your cousin's spouse can have his name removed from the deed or title, but he will remain on the loan until your cousin refinances or sells the home.
      0 Votes

    • 35x35
      Jan, 2011
      Jen
      What about an "assumption", if the bank approves this will that take my cousin's husband off and release him from any liability? What are the average fees for an assumption? Jen
      0 Votes

    • 35x35
      Jan, 2011
      Bill
      A divorce mortgage assumption might be an option, if your cousin's bank will approve it, but you need to realize that not all mortgage loans are assumable. The first thing your cousin should do is to contact her mortgage lender to see if they will allow her to assume the loan. If the bank will let her assume the loan, she can start the process by filling out an assumption agreement and a release of liability. The lender will also need documentation to determine if she can pay the mortgage based solely on her own income and credit history. If she meets the lender's underwriting guidelines, she may also need to furnish a copy of her divorce decree and have her spouse initiate a quit claim deed. If the assumption is approved, the lender generally executes a release of liability to the other spouse. This can be a good option if your cousin's bank will allow the assumption and you have good terms on your existing mortgage. Even though there are assumption fees, they are usually much less than what it would cost to refinance the mortgage.
      0 Votes

  • 35x35
    Nov, 2010
    KD
    When I left my Ex and moved to an apt, he stayed in our house. He let the house go into foreclosure. My lease is now up and I'm finacially able to take over the house(He moved out of the house 5 months ago). I can't refinance due to not so good credit. Can I take his name off the deed but not off the mortgage? ....He is willing to work with me.
    0 Votes

    • 35x35
      Nov, 2010
      Bill
      What you are asking for is called a "quit-claim deed." This type of deed is common and easy to complete by a paralegal.
      0 Votes

    • 35x35
      Dec, 2010
      brock
      I have a rental with a friend. It is way upside down now, and he is willing to take over it (he lives close to it). I want out, but it is worth less than we bought it for in 2006 and we cant refi. neither of us live there, its rented out. I just dont want to deal with it anymore. what are my options? can i quit claim or do an assumption to get off the note? it is not in foreclosure or anything, we havent missed a payment, im just sick of the renters calling, getting association fines, etc. I am willing to take a loss on what i put into it but i dont want to be on the note if possible. re-fi is not an option as i said earlier.
      0 Votes

    • 35x35
      Dec, 2010
      Bill
      Taking your name off the title to the property will not remove your responsibility to pay the mortgage payments. I am not aware of any solution that exists that will free you from the landlord headaches you are experiencing other than a refinance, which you stated is not possible.
      0 Votes

  • 35x35
    Nov, 2010
    Steph
    My boyfriend and I purchased a home 6 years ago. He was abusive so 3 years ago I moved out. He was unable to refinance and unwilling to sell but agreed to keep up the mortgage payments. He didn't and the home was foreclosed on about a year ago. Now I got a letter from the lender stating that the house was sold for $17,000 less than what we still owed on the loan and are claiming we are responsible for the remainder. I cannot afford this and feel that since my ex breached our verbal agreement in the first place he should be held liable for any additional payments. Is there any way I can get out of this debt? I'm just now starting to repair my credit after the foreclosure and this will completely destroy all my efforts so far if it doesn't get taken care of.
    0 Votes

    • 35x35
      Nov, 2010
      Bill
      Your contract with your ex-boyfriend does not trump the mortgage contract you signed. There is no "we broke up so I am no longer responsible for the mortgage," clause in any mortgage contract I have seen. However, you do have a cause of action for breech of contract against your ex-boyfriend for his promise to you to continue to make the mortgage payments, should his breech cause you any harm monetarily. Consult with an attorney in your state who has experience in real property or contracts law to learn more.
      0 Votes

  • 35x35
    Oct, 2010
    Vyv
    A friend of mine lives in NJ and is divorced and has been for 2 years. He still has a joint mortgage on the house with his X wife who has not lived in the home for 2 years and is not contributing to the mortgage. Per the divorce decree the house is up for sale and has been since the divorce but because of the housing market no one is willing to buy it at market value and there are quite a few homes in his area that are going for the same price as his or cheaper due to being bank owned. He wanted to buy her out (approx. $30,000) and keep the house but she refuses believing she is due more. Now she is filing for bankruptcy and has used the house as one of her assets. The Trustee Attorney is willing to take the $30,000 to pay off her debts and told him he will have to get her off the title and that is going to cost him. Will refinancing do the job? Can she refuse to sign over her half even though she is at the mercy of the bankruptcy courts? Any help would be appreciated.
    0 Votes

    • 35x35
      Oct, 2010
      Bill
      Ex-spouse lost the driver's seat on her finances when she signed the bankruptcy petition. Refinancing will be difficult if the loan-to-value of the property is near or above 100%, which is my guess based on your friend's unwillingness to budge on price. Your friend should review the Bills.com resource Refinance with 100%+ LTV to understand his options. I would also urge him to consult with an attorney who can assist him in his negotiations with the bankruptcy trustee. The trustee is working on behalf of the creditors, and is not responsible for representing the interests of your friend. Your friend needs to level the playing field and hire an advocate.
      0 Votes

  • 35x35
    Sep, 2010
    Bill
    Your father can apply for a non owner-occupied loan.The lender will view the home as an investment property for your father. On this type of loan, the borrower usually pays a higher interest rate and the loan has greater restrictions, such as a lower loan-to-value ceiling. If your father takes out a loan stating that the home will be his primary residence, when it will not be, in order to get the lower interest rate and fewer restrictions available to a resident borrower it would be improper.

    Separately, I suggest that you keep good records, such as canceled checks, to verify that you are paying your father the monthly payment each month. That way, if he is looking to take out another loan, the payment on the home you will live in will likely not be included in his debt-to-income ratio calculation on his new loan.
    0 Votes

  • 35x35
    Sep, 2010
    John
    I want to live in a house in North carolina But the house is going to be in my fathers Name and I'm going to be giving him the money for the monthly payments. Does it seem like there is going to be a problem being that he isn't going to be living in the house and his name is on the house Mortgage and loan?.
    0 Votes

  • 35x35
    Sep, 2010
    Bill
    It may be the case that you are experiencing two different problems linked to your ex-spouse not having removed you from the loan on the mobile home. One problem that you are encountering is that prospective lenders are likely including the mobile home mortgage payment as part of your monthly olbigations. When qualifying for a home loan, a lender looks at certain debts, such as car payments, credit card monthly payments, and the new mortgage payment and figures what percentage of your income is used to pay these bills. I recommend that you speak with your loan officer and explain that you have not lived in the home for years, that your ex was ordered to have you removed from the loan and did not, and that you can prove that he has solely paid the mortgage payment since the divorce. It will be important that you can prove that he has made the payment without your help. This could convince the loan underwriter to not count the payment as part of your debt-to-income ratio, making it easier to qualify for a new loan. The same explanation could also be an acceptable explanation to discount any derogatgory information tied to your ex's late mortgage payments. If one lender does not accept this explanation, keep looking for one that does. I encourage you to visit the Bills.com Home Purchase Center.
    0 Votes

  • 35x35
    Sep, 2010
    Angela
    Married, bought a mobile home in 1997 - divorced final in 1999 and ex was ordered to refinance and get my name off the house. He NEVER did this. Now I'm wanting to buy my own home and can't with his home on my credit. He says he can't get the home refinanced because no company will refinance a 10 year old mobile home. So am I stuck? If I take him to court for contempt what can they force him to do if he can't refinance? Anything? He could have done it years ago, but didn't because he didn't want to. Now he has the crappy economy on his side. He has been late a few times as well this hurts my credit also.
    0 Votes

  • 35x35
    Sep, 2010
    Bill
    I do not know what you mean when you write there is a "second charge" on the property. That is not a term used in US property law. If you are referring to a lien or mortgage, then I do not know of a means in which you can unilaterally remove your name from a mortgage or lien except for filing bankruptcy.
    0 Votes

  • 35x35
    Sep, 2010
    AA
    Having got divorced my martial home was in my Ex husbands name, (deeds and Mortgage) in the finance settlement we agreed he was instructed to sell the house and pay me a lump sum form the sale. The house also had a second charge on the property. He failed to sell the house and let it get repossed which meant there was a shortfall in the sale of the house and the second charge on the house is still outstanding as well as the lump sum due to me - is there anyway for me to have my name removed from the second charge
    1 Votes

  • 35x35
    Sep, 2010
    Bill
    Your brother needs to refinance the mortgage to remove you as a co-signatory.
    0 Votes

  • 35x35
    Sep, 2010
    Jose
    I co-signed for my brother about 5-6 yrs ago. I'd like to remove myself from the loan itself. Do I have to refinance to complete this? What other options do I have to remove my name from the loan? He's been on time on all payments, so no problem there.
    0 Votes

  • 35x35
    Sep, 2010
    Bill
    Generally speaking, any real estate transaction needs to be signed off by all owners of the property in question. You may want to consult your attorney for more information. Furthermore, would someone be willing to only purchase half of the property? Keep in mind that the real estate economy is still experiencing difficult times in many parts of the country. It is very possible that he is having problems selling and/or refinancing the home.
    0 Votes

  • 35x35
    Aug, 2010
    robin
    my husband was awarded our marital home in the divorce. He was supposed to refinance or sell, but has done neither, so my name is still on the deed and loan. He says he cannot get refinanced, but I have no idea whether that is the truth. Can i sell my half of the house to someone else without his permission?
    0 Votes

  • 35x35
    Jun, 2010
    Virgie
    Found out it does not matter if your name is off the deed and the title, if your name is still on the mortgage, you are still on the hook for the mortgage. Good luck getting a loan or credit, unless you have a great credit and a high income. This is coming from experience. It is a horrible situation to be in.
    1 Votes

  • 35x35
    Jun, 2010
    Bill
    Having the quit-claim deed completed and filed needs to be done sooner or later, and if getting it done sooner removes an obstacle to refinancing the property then it makes sense to do it sooner. The downsides to doing it sooner are minimal, in my opinion. Regarding your main issue, I cannot speak for the Illinois family court. However, I think your idea is an excellent one, and deadlines, incentives, and penalties should be built into your divorce agreement. I would go as far as saying you should insist on them.
    0 Votes

  • 35x35
    Jun, 2010
    Jet
    My wife and I are in the process of getting divorced in Illinois. I filed a few months ago. Nothing has been finalized yet, but I informally agreed agreed to let her have the house (joint mortgage w/ both names on the deed). I have checked around and was already told that I will have an issue getting my own mortgage on a new home while I am on the current mortgage. Does it make sense to be removed from the deed without being removed (via refinance) from the mortgage? A quit-claim sound like it removes my rights to the house.. but no the obligation to the mortgage. Also, what kind of penalties can be given to my wife (soon to be ex) for failing to refinance within set period of time (Note, her salary is more than twice mine)? I will probably have to rent until this happens.
    0 Votes

  • 35x35
    May, 2010
    julie
    Hi, My sister has been separated from her husband for over a year and a half, he was living in their home and she moved out. He neglected to inform her when he was eight plus months behind in the mortgage, she discovered this by running a credit report. When she spoke to someone there, she was told they are currently working on the second modification. I told her they can’t do this without her signature, isn’t that right?
    1 Votes

  • 35x35
    May, 2010
    Bill
    One would think so, but apparently there are loan servicers that do not. See the Bills.com resource for a discussion of this topic: Approve Loan Modification.
    0 Votes

  • 35x35
    Apr, 2010
    Bill
    I would not serve you well if I tried to summarize an answer that encompasses all of your issues in this space. Therefore, I will give you several reading assignments to complete. Regarding consolidating the debt, read What Are My Debt Resolution Options? If you wish to find an effective debt resolution firm, see Reputable Debt Settlement. To understand what can happen if you do not resolve the debt and learn your rights and liabilities in the collections process, read Collections Advice.

    Create a plan for resolving the debt -- ignoring it and hoping it will go away is your worst, most expensive option. If you are summoned to court and do not reach an out-of-court settlement before the hearing, attend the hearing.
    0 Votes

  • 35x35
    Apr, 2010
    Katy
    I recently received a letter from several attorney offices stating I was being sued by a collection agentcy. I currently do not work but I go to school full time. I own a home and car with my spouse. We are current on all bills, never fallen behind or paid mortgage late(Thanks to spouse's pension). I was told they could put a lein on my home for the debt. I was thinking of having the bank remove my name from the loan, (What good is my name on it and I'm not working) or file chapter 7. My debt is less than $10K. At this point, is it too late to get with a debt consolidator? I've been told by many people, there are so many scams out there and there is no real way to tell who is legit. What happens if I dont show up to court? What happens if the judge rules in the companies favor (Even after I prove I can not pay)? Will they take my income tax return knowing I have student loans to repay? Any information you can provide will be greatly appreciated! Thanks, Katy
    0 Votes

  • 35x35
    Apr, 2010
    Bill
    It is the last option but it may not be the best. Consider filing a breach of contract lawsuit. There may be an equitable solution whereby the court forces the ex to either refinance or sell the property. Your present husband should consult with his divorce attorney regarding the viability of this option.
    1 Votes

  • 35x35
    Apr, 2010
    Vicky
    My husband ex-wife was awarded the house and a car with both their names on the loan. She will not refinance and the only other option we can think of is to have him file bankruptcy since she is behind on payments for both items and we don't trust her. We don't want to be left financial responsible for the debt. Is bankruptcy the last option?
    0 Votes

  • 35x35
    Apr, 2010
    Bill
    I agree with your conclusion that your signature would have required if there had been a mortgage refinance. However, I am not certain that both mortgage holders need execute a mortgage modification. Consult with a Michigan attorney, who will be able to advise you more precisely regarding your rights.
    0 Votes

  • 35x35
    Apr, 2010
    Linda
    I own a house jointly with a person to whom I am not married. I moved out of the house 14 years ago and have tried repeatedly to have the other owner buy me out, agree to split the property (there are 2 lots), or sell it and split the proceeds. Even though I made the entire down payment, I even offered to quit claim if the co-owner could find his own financing. Because ownership is joint with full rights of survivorship, in Michigan, I was not able to file for partition. At this point, the mortgage is 180 days behind and the co-owner has just completed a bankruptcy. The loan is not “under water.” Last month, the co-owner told me that he was negotiating with the mortgage company to “modify the mortgage.” Just recently, via Identityguard, I was notified that “arrangements had been made with the credit grantor to make partial payments.” Because both names are on the deed and the mortgage is joint, I though my approval would be required to do something like that. What gives??
    0 Votes

  • 35x35
    Apr, 2010
    Bill
    First and foremost, consult with your divorce attorney regarding this matter. He or she will be able to advise you according to your jurisdiction's statutes and case law regarding this unusual but not unique situation. Under the common law, you and your ex-spouse have joint and several liability for any deficiency balance and deficiency judgment. If you pay anything to the judgment-creditor, you have a cause of action to collect that amount from your ex-spouse due to his breach of contract with you. Again, your attorney will give you more precise information about your rights.
    0 Votes

  • 35x35
    Apr, 2010
    Christina
    I have been moved out of my ex's house for 3 years my name was removed from the deed but not the loan he couldn't re fiance due to his bad credit the house is now in for closure what can i do?
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    I surmise from your question you reside in the UK. My exposure to UK law is infinitesimal, and it would be folly for me to offer an observation regarding your question. I urge you to consult with a solicitor who has experience in real property or contract law. He or she will be able to give you precise guidance on your rights.
    0 Votes

  • 35x35
    Mar, 2010
    scott
    my ex girlfriend had an affair with another man 6 months after getting a joint mortgage with me, she left the house and has not been seen since, she never paid a penny towards the house but refuses to take her name off the mortgage and sign it over to me unless i give her ten thousand pounds,she left twelve years ago,is there a time cut off point at which she is no longer entitled to stay on the mortgage i have made all the payments alone,what can i do ?
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    Contact a solicitor (I note your UK e-mail address) and discuss filing a lawsuit against the deadbeat.
    0 Votes

  • 35x35
    Mar, 2010
    sarah
    Me and my partner have a joint mortgage and a child together but we have now broken up even thought we are still living it the same house he is refusing to pay his half of the mortgage how can i get him out?
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    As you may have surmised from the above, there is no "We broke up so I withdraw my name from the mortgage" clause in mortgage contracts. In fact, mortgages are designed to do the exact opposite. Here, the parties need to refinance with the occupant of the property placing the mortgage in his or her name. This goes beyond the scope of your question, but I advise couples to put the mortgage in one partner's name only. That way if there is a split-up, divorce, or death, there is a 50-50 chance the person staying in the property will have the mortgage in his or her name only. With both people on a mortgage, there is a 100% chance of refinancing upon break-up.
    0 Votes

  • 35x35
    Mar, 2010
    chris
    My daughters boyfriend left her 2 years ago. Since then she has been living in the house they bought together on a joint mortgage. She has been paying the mortgage on her own since then. They are now both in new relationships and she wants to get his name off the mortgage (he wants this too) How does she go about this. Is it just a case of going to the building society and asking for them to take his name off (with his permission) or will she have to refinance?
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    I correspond with many people in your situation, and it is usually the parties who are not residing in the property put are still responsible for the mortgage. It seems common in divorce to leave refinancing the property as an afterthought. You are wise to think about this in advance. Make refinancing a key negotiating point in your divorce settlement. Your spouse must either refinance immediately, and not at some indeterminate point in the future, or you two sell the property now. If the financing on the house is upside down, then the property is not an asset but a huge liability that prevents you from moving forward. Let me correct a misconception: You wrote, "...what will happen if I do not agree to allow my name to stay on the loan?" It is too late for that. Your name is on the mortgage and there is no removing it. Your spouse needs to refinance to remove your name from the mortgage.
    0 Votes

  • 35x35
    Mar, 2010
    Jill
    I am going through a divorce. I am in the same situation listed above. My ex-husband is residing in the home, and we have a joint mortgage. I have no desire to keep the home or live in it, and would gladly pass it over to him as long as my name is taken off the mortgage. He is currently in forbearance on the loan, and states the mortgage company will take my name off of the loan once it is modified. I have learned through many individuals that this is very, very unlikely. We are upside-down on the house, and I feel it is also very unlikely he will be able to refinance on his own. If I want my name taken off, and it is not done, can I force a sale on the home? I refuse to let my credit get bogged down for 30 years as he tries to make payments. If I do not remove my name, I will not be able to get my own credit due to the debt to income ratio. Can you tell me if I could force a sale, and if not, what will happen if I do not agree to allow my name to stay on the loan? Thank you.
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    Your question implies there is much more involved in your girlfriend's mortgage than simply refinancing. It appears there may be some equity involved, or perhaps an issue of the downpayment. I suggest your girlfriend and her ex-partner speak to an attorney who can act as a mediator to work out the specifics of a plan to not only extract your girlfriend from the mortgage but also receive some of the equity in the property.
    0 Votes

  • 35x35
    Feb, 2010
    paul
    my girlfriend has a joint mortgage with her ex partner, she no longer lives at the house but he does , they both want her name off the mortgage but we are unsure of her rights , is she entitled to half of the house , or half of the equity? How can this be sorted out? her ex partner just wants her to sign a transfer of equity form but having her name on an existing mortgage is stopping her getting a new mortgage , Paul
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    There is no "we broke up so I want out of the mortgage" clause in any contract that I have seen. As mentioned above, your ex-partner needs to refinance the mortgage or deed of trust in his or her name only. The alternative is to sell the property. Leaving your name on the mortgage is not a viable long-term option.
    0 Votes

  • 35x35
    Feb, 2010
    christine
    i want to leave my partner due to relationship problems but we have a mortgage in both names it is in errears two and we are on interest only to try meet repayments but we are not gettin on and i feel i want out can i just take my name off and leave him house he does not want to give it up but i dont want to stay
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    Perhaps I'm lacking in imagination, but I am not aware of any cause of action that your boyfriend has against his ex-girlfriend to force her to refinance the house in her name. As you suggested, perhaps he could buy her share of the property and refinance it in his name alone. Alternatively, they could agree to sell the property and divide the profit or loss evenly.
    0 Votes

  • 35x35
    Feb, 2010
    Kim
    My boyfriend has a house with and ex-girlfriend and she agreed to get the house refinance in her name this month. She is already dragging her feet I am wondering since they are not married what his rights are? If he got and attorney could he take her to court asking a judge to order her to have the house refinanced bya certain date and if she can not do that then he will refinance the house in his name(which he can do he has great credit). He wants to go buy another house and can't until she refinances. Any suggestion???
    0 Votes

  • 35x35
    Jan, 2010
    Bill
    Dee: By design, a mortgage with joint debtors is written to not allow exactly what you suggest. All buyers are nervous before signing a mortgage -- it is a big commitment. However, if the idea of entering into a joint mortgage is so nerve-wracking that you are already plotting an exit strategy then your subconsious or inner-voice or however you express your intuition is telling you that the mortgage (or relationship) will not end well. Take an hour and consult with an attorney in your state who has experience in family, real estate, or contract law and share your concerns. If you have yet to marry, then an ante-nuptial agreement is something to consider.
    0 Votes

  • 35x35
    Jan, 2010
    Bill
    Robin: Do a quitclaim deed at your earliest convenience to preserve your rights to the property. It will take a paralegal 30 minutes to create a quitclaim deed, so it is not a big expense. I imagine a mortgage lender can do a quitclaim, but there is no reason to wait for the refinance to close to do so. A title is a bundle of rights that prove or establish ownership in a property. A deed is more contract-like, and is the instrument used to transfer ownership.
    0 Votes

  • 35x35
    Jan, 2010
    Robin
    I am recently divorced, I am refinancing the home my ex husband and I shared. When calling companys to refinance, I am told that they can handle everything on getting my husband off the deed (and/or title, is there a difference?). Is this correct or do I need to do a quitclaim before refinancing?
    0 Votes

  • 35x35
    Jan, 2010
    Dee
    Before placing my name on a joint home mortgage,Is there something I can do to protect myself or make things easier if I want to have my name removed if our relationship fails??
    0 Votes

    • 35x35
      May, 2011
      Fawl
      Don't do it, Dee, just don't. Learned the hard way. Look at the other 98% of the comments in this thread. I was absolutely sure it was the right thing to do, against all advice. I wish I had listened.
      1 Votes

    • 35x35
      Jun, 2011
      Jan
      Do do it. My son made this mistake and now she refused to refinance. He has not right to the house, the bank, which he has banked with for 15 years won't even give him a small loan because of his "Debt to income ratio". His name is off the paperwork filed with the county, but the load is killing him.
      0 Votes

  • 35x35
    Jan, 2010
    Bill
    There is no universal penalty for failing to fulfill the obligations set forth in a divorce settlement. A court will look to the settlement itself first, and then state statutes and case law next when deciding if a penalty is due, and what it should be if warranted. A court will listen to reasons why the parties did not fulfill their obligations, and will not be deaf to explanations regarding extraordinary market conditions.
    0 Votes

  • 35x35
    Jan, 2010
    kim
    I am recently divorced and was awarded the house and home equity loan. I was given a year to get my ex's name off however with the market being what it is, I am upside down on the loan and the bank won't refinance. Also, I am unable to sell it for what I need to pay off the loans because the appraisal value is low. What is the penalty for not refinancing or selling the home as ordered by the court?
    0 Votes

  • 35x35
    Dec, 2009
    Bill
    Talk to your divorce attorney. The first thing you will be told to do is complete a quit-claim deed. Your divorce attorney's paralegal will spend 30 minutes putting one together. It will cost very little to accomplish part 1. The second thing you need to do may be a bit more difficult -- you need to refinance the mortgage. I say it may be difficult depending on how much equity you have in the property, your employment status, your credit score, and your debt-to-income ratio.
    1 Votes

  • 35x35
    Dec, 2009
    Maria
    I have a question I was awarded the house in divorce two years ago, and my ex-husband wants me to take him off the loan. My question is do I have to do the paperwork or can he? I'm asking because I already paid a lawyer and that is a messy situation but never got my deed. My ex is beng ugly and saying I have to pay all the cost since it was awarded to me, is that true?
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    I am not aware of any government or private programs like the one you suggested. I would be surprised that such a program would even be proposed because some people would perceive it as the government encouraging divorce.
    0 Votes

  • 35x35
    Oct, 2009
    susan
    Is the government offering any assistance for couples that have split after purchasing a home and one person(that actually can afford house payments)needs to get the other person off the loan? in other words if refinancing is the only option, can the person keeping the house get any assistance? (to refinance?) or are there any other options?
    3 Votes

  • 35x35
    Sep, 2009
    Bill
    As mentioned in the article above, the best way to remove yourself from a mortgage is to refinance. This is because a mortgage is a contract between the mortgage company and the borrowers. Look at it from the mortgage company's perspective. The mortgage company provided the loan to you and your mother based on her credit score and your credit score. If the mortgage company stopped receiving payments on the property, it could require either or both of you to pay. Removing your name from the mortgage after the fact would change the conditions of the loan and the amount of risk the mortgage company would face. Refinancing creates a new loan agreement, and if your mother would refinance it would create a new mortgage agreement with (possibly) a new lender.
    0 Votes

    • 35x35
      Jul, 2011
      frank
      can i be taken off a quit claim deed without agreeing
      0 Votes

    • 35x35
      Jul, 2011
      Bill
      A quit claim deed is a legal tool a landowner users to convey whatever interest he or she has in real property to another. Generally speaking, if A and B have a joint ownership in a property, A can convey his or her interest to C, or B can convey his or her interest to A, but B cannot convey A's interest to him or herself, or to someone else.
      0 Votes

  • 35x35
    Sep, 2009
    Serina
    How can I get my name off of a mortgage loan that I have with my mama..
    1 Votes

  • 35x35
    Feb, 2009
    Bill
    This is not as easy as just ringing up the mortgage provider. Not only will your partner's ex have to agree to do this, but they will also need to refinance the existing mortgage solely in your partner's ex's name. You will need to find out the details from the mortgage lender.
    0 Votes

  • 35x35
    Feb, 2009
    suzanne
    My partner is wanting to remove his name from a joint mortgage he has with his ex partner but she doesn't want him to do this. He is now unemployed so is struggling to pay the minimum amount. Currently they have tenants in the property so he is only paying a small amount but this is still too much now that he is out of work. He doesnt want anything from the house other than his name removing. Can this be possible for him to do if he rings his mortgage lender or does she also have to agree to this?
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    That gets a bit more complicated, so I would certainly suggest chatting with an attorney quickly or a tax advisor. Good luck.
    0 Votes

  • 35x35
    Dec, 2008
    Shawn
    I have that exact same issue. I am in the military living in different state from where my ex-spouse resides where we own a home. I recently recieve paperwork from my ex-spouse to sign-off on a quitclaim deed per our divorce decree to remove my name off the title. Being in the military living in another state, I still claim residence because my name is on the title of the home where my ex-spouse lives and the tax benefits in that state. If I sign-off on the quitclaim deed, will it affect my residencey claim even if my name is still on the mortgage? Before I sign-off (which I do not have a problem signing off) on the paperwork, I will consult the military legal office to see if there are options, but I do understand the advice you provided to the individual on this subject. Thanks for taking time to read my comments/ question.
    0 Votes

    • 35x35
      Jun, 2011
      Scott
      Be careful about signing the quit claim (or interspousal transfer deed) because you will now not be an owner of record of the property but you will still be liable for the mortgage. I would NOT ever sign off the deed without concurrently being taken off the mortgage even if that means selling the house. Once off the deed, you would have no power as to whether the house was sold, etc.
      0 Votes

    • 35x35
      Jun, 2011
      Bill
      I agree totally, If you are still on the mortgage, you should still be on the title. If she needs you to qualify for the mortgage, then you get to have ownership, and a say in selling the property. You should sign the quit claim when there is no mortgage, or she takes the whole mortgage. Otherwise you are responsible for the house, without having any right to it.
      0 Votes

  • 35x35
    Nov, 2008
    Bill
    You should talk to the lender and explain the situation to them to see what can be done to get your name off of the deed. I do not know the specifics of the situation, so I cannot really comment. I think it would also be helpful if you take the help of an attorney to sort the situation.
    0 Votes

  • 35x35
    Oct, 2008
    tam
    ex awarded house in divorce still has my name on loan and I would like to have it removed. He is making payments late and this is hurting my credit, also I would like to purchase home of my own. I cannot due this with my name on his loan. He refuses to refinance because of his credit.
    15 Votes

    • 35x35
      Feb, 2011
      angela
      I am going through the exact same thing and my credit is hurting in the process. I have no one who can help and it is like I have to live with it. I am so frustrated.
      0 Votes

    • 35x35
      May, 2011
      Rakese
      Call the company that is currently financing your home and ask them about an ASSUMPTION. An assumption gets the house out of your name as long as the person who will be taking over the house can prove that they are financially stable enough to take over the payments.
      0 Votes

    • 35x35
      May, 2011
      Bill
      It is a good idea to ask about an assumption, but most loans are not assumable. The loan documents must state that the loan is assumable. Even if someone is willing to take over the mortgage and has good income and credit, that does not mean the loan can be assumed.
      0 Votes

    • 35x35
      Jun, 2011
      Anette
      I have the same problem and I do not understand what the point is that my Ex got the house with all the bills when I still get the nasty notes from the bank and I have not lived there in 2 years. Now he moved out and wants to give it back to the bank. I have no idea what I can do because the bank said "Though ,you have to pay"
      0 Votes