Can I get off a mortgage that is in the names of my ex-wife and I?

Get Legal Help Today

 Secured with SHA-256 Encryption

Can I get off a mortgage that is in the names of my ex-wife and I?

My ex-wife has been in pre-foreclosure around 3 times I believe. She filed

Chapter 13 bankruptcy last year and is to sell the property as part of the

bankruptcy; I believe that she has a year to list it. I am still on the loan and the

deed. Is there any way for me to get my name off this house and away from her financial issue’s and its affect on my credit?

Asked on March 7, 2016 under Real Estate Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Unfortunately, until the house is sold or, in the alternative, refinanced solely by her, you can't get off the mortgage: the mortgage is a contract with the lender, and for any change (including removing a person from the contract or loan) to be made, *all* parties to the contract must agree to the change. That means that the lender and your ex-wife would both have to agree to remove you, and even if she would  agree, there is no reason for the lender to--letting you off the mortgage hurts it, by reducing the number of people obligated to pay (or whom it can sue for the money in the event of a default) without giving it any advantage or benefit whatsoever.


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 AttorneyPages.com 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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption