How to remove my ex-spouse off of the mortgage?

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How to remove my ex-spouse off of the mortgage?

However, my house is underwater therefore I couldn’t do a traditional refinance. I was not eligible to refinance under HARP 1.0 because of the LTV guidelines. I do not want to sell as I can afford to make payments but I was steered toward modification as a method to remove my espouse while saving some money in the short term. After numerous calls the bank finally put me into a “forebearance” plan as a way to get modified. After about 8 months of lower payments which turned out to be “late payments” and ruining my credit they finally put me in a 3 month trial period. Finally got modified.

Asked on August 29, 2012 under Real Estate Law, New Jersey

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country the only way you will be able to have your "ex" removed from the loan on the house you two have together secured by the mortgage (trust deed) is as follows:

1. refinance the loan (which will be hard due to the property being under water);

2. sell the property by way of a short sale.


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