How can I get my name off of the mortgage?

My ex-wife will not refinance the house for seven years now. The deed is in her name and both of are names are on the mortgage. For those seven years she has been always over thirty days late and it is effecting my credit making it hard for me to get a house. Is there anything I can do? I really need help.

Asked on June 1, 2016 under Real Estate Law, Pennsylvania

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

It is unlikely that the lender will voluntarily remove you from the mortgage since when it approved the loan, it assessed the credit of both your ex and you. Payments, rates, etc. were all determined based on both of you as borrowers.  That having been said, there are potentially options in such a situation. The first would be to get your ex-wife to refinance in her name alone; however considering her lengthy history of late payments this isn't feasible. There is also a "novation" which is a mechanism for a creditor to release a debtor from a debt; for a certain sum it will release a borrower from a mortgage obligation. However, it too is not realistic for the same reason as given above. Additionally, you could file for bankruptcy, which will clearly affect your credit further. Finally, you could try and talk your spouse into selling the house but I'm certain you have already done this. Other than that, I'm afraid you will have to continue on the morgtage for the forseeable future.


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