Can I assume a mortgage on a home that my ex is trying to short sell?

The property was not discussed during the divorce. My ex removed my name from the title and added

her father. Now she can no longer afford the mortgage and needs my signature and financial information for short sale of the home. Do I help her short sale or can I assume the mortgage and property? Who is responsible for the balance from the short sale?

Asked on May 23, 2017 under Real Estate Law, Maryland


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can only assume the mortgage if the lender's approval or consent. (At least that's the usual case: almost all commercial mortgages contain a clause or provision in them that there is no assumption at all--though the lender could still consent to it, since any agreement may be changed by mutual consent--or more straightforwardly, no assumption without written consent from the lender, which could be given without requiring an amendment to the agreement.) So it is possible you could do this, but not a given: you need to ask and get the lender's consent.
Anyone currently on the mortgage would be responsible for any deficiencies in the shortsale.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.