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Can you have your name removed from a mortgage loan that was deemed your ex spouse's responsibility in a divorce?
Wiki User
∙ 12y ago
No, you cannot. The bank is under no obligation to abide by your divorce decree. This s a problem caused by poor legal representation at the time of the divorce. Your attorney should have addressed this issue as part of the negotiations. If one spouse agrees to or is ordered to convey their interest in the marital property to the other spouse, and the property is subject to a mortgage, there must be further provisions regarding the mortgage. The spouse who will receive the interest of the other spouse must be required to refinance the mortgage in their sole name within a relatively short period, say 60 days. That way, the refinance will become a court order and the spouse who is to convey their interest will be free from the mortgage.
If this was not done in your case then you should contact the attorney who represented you in your divorce and ask why. That's what you paid for when you hired the attorney to represent your interests in the divorce. Ask that attorney to review your present situation and determine what your options are. As long as the original mortgage that you signed remains unpaid you remain completely responsible (to the bank) for paying it if your ex-spouse fails to make payments. Any default will ruin your credit.
One final point: No one can change the terms of a mortgage loan and note, they are legally binding contracts. However, you should also contact your mortgage company and ask them if a name can be removed from the mortgage if your name is no longer on the deed.
Wiki User
∙ 12y ago
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You need to make that a part of the separation agreement. You give him a deed and he is required to refinance the mortgage in his own name within a specific time period such as 90 days. The deed should be exchanged at the time of the refinance.Your attorney needs to address this issue during the divorce. The bank is not bound by your divorce decree if all it says is that you should be held harmless from the debts. That mortgage must be paid off and refinanced in your husband's name alone in order to dissolve your responsibility for paying the mortgage.A lender is not legally bound to agree or act on the stipulations pertaining to debts when it relates to a divorce decree.
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