If I am divorced, how can I get my name offa mortgage that is damaging my credit?

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If I am divorced, how can I get my name offa mortgage that is damaging my credit?

My ex and I divorced almost 5 years ago. He gave me money for my equity in the house and I signed the deed over to him. He had told me that he needed the deed in his name to refinance the house. He was unable to refinance the house and has been unable to do so. I would like the house out of my name especially since I don’t even know how to contact him and he has been late on at least 4 payments in the past year.

Asked on October 30, 2011 under Real Estate Law, Alabama

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The only way that you can get your name off of a loan secured by a mortgage on a piece of real property owned now by your former spouse is for him to sell the property or refinance it.

Unfortunately, the custom and practice of lenders are that once one signs on as an obligor on a loan, the lender will not voluntarily release that person's name for the loan.


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