If Idivorce canI remove my name from the mortgage?

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If Idivorce canI remove my name from the mortgage?

My husband just brought his mother and sister into our new home; we cannot live together. How do I get my name off the house so I can get an apartment on my own?

Asked on June 1, 2011 under Family Law, New Hampshire

Answers:

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

Answered 10 years ago | Contributor

Your husband will need to refinance the mortgage solely in his name. Of course, you would have to deed over your interest in the property as part of ant refinance. If he is unable to re-finance, he can ask the lender to allow what is called a "novation" to remove your name. While this is only rarely allowed, it's still worth trying.  A novation could be accomplished by your husband proving that they have paid the mortgage without you.  If he is current and has never been late with payments, the lender may allow him to remove your name from the mortgage.  A lender may also allow a novation if your husband "buys" your release by making a substantial payment to reduce the principal mortgage balance.

However, since you are still married, there could be other factors to be considered. Before you attempt to take the mortgage out of your name or make any other major financial decisions, you really need to consult with a divorce attorney to discuss all of your options.


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