I still own a house with my ex, how do I get my name off of the mortgage?

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I still own a house with my ex, how do I get my name off of the mortgage?

He lives in the house and I rent somewhere else. He is engaged. I want to buy a house. What happens when he gets married and he still has not paid me half the equity and does not want to sell the house? He is behind in the payments. I have tried to buy a house twice and was denied because of his credit. How can I move forward?

Asked on July 27, 2011 Minnesota

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

There are three ways to get your name of the property's mortgage that you still own with your former husband. First, ask the mortgage company to release you from the loan in a written document. The request most likely will be denied. Second, sell the home to a third person where the loan will be retired. This does not work because you want to buy the house. Option three, refinance the loan if possible where the loan is not longer in your name.

Last option is to go in with a friend with good credit where both of you buy the home, get a new mortgage and you have a written agreement to cover the loan for the mortgage that the friend will have to co-sign. The friend agrees in writing that he or she has no interest in the property and will sign a quitclaim/deed to you of his or her interests.

You might want to consult with a real estate attorney concerning your question.

Good luck.


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