Can a person back out of a mortgage that they agreed to pay in a divorce?

UPDATED: Mar 6, 2012

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Can a person back out of a mortgage that they agreed to pay in a divorce?

My boyfriend agreed to pay all bills on a house he and his ex own, including mortgage, until the house is sold. He would incur all losses or they would split the profit from the sale. They’re upside down on the mortgage and doubt the house will ever sell at this point. Finances have changed and he’d like to let the bank take the house but doesn’t want to be sued by his ex. What are his options?

Asked on March 6, 2012 under Family Law, New Mexico


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

He needs to get help from an attorney about modifying the agreement or asking the court to set aside that portion of the agreement due to a change in the finncial climate and circumstances with regard to the house.  He should also speak with the attorney about negotiating a deed in lieu of foreclosure with a waiver of deficiency.  Good luck.

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