how to remove my name off mortgage loan

i think it would be smart to have a conversation with the trustee to see what effect this has on your plan and how the court might suggest you proceed.

my husband added me on his home and i want off. i have tried but he can't refiance because of the market. i want to know how to get off

hi sadena,

if your husband added you only on the title to the home, you can sign a quit claim deed and get your name off the property. but if your name is listed on the home loan, your husband will have to refinance to remove you from the mortgage. there is no other way you can remove your name because no lender would want to remove a co-borrower or a co-signer from the loan in this market. the only possible option seems to be a refinance.

hi, i just recently got divorce and my name is on the mortgage, per my ex-husbands statement. I called the morgage company before the divorce was final and they said i wasn't in the mortgage. he wan't to file a quit claim deed but his credit score is really bad. what should i do? should i get a lawyer?

shaleh, i guess you didn't have counsel during the divorce...you haven't indicated who is staying in the marital home and who isn't. that makes a great deal of difference as to who signs a deed and who doesn't. if you are not a borrower but you're an owner, and you transfer your ownership interest to your ex-husband, then he'll just make payments on that loan (or not). his credit score wouldn't matter in that case. but if he's quit claiming to you, and you're not currently a borrower, then the lender is going to be looking for payment in full at once.

i think you need to divulge a bit more information. as for a lawyer, maybe you do need one.

we were divorced in 2001 and i just found out that my name is still on the mortgage and i'm still responsible if he defaults on payment. is there any other way to remove my name from title besides refinancing? he has excellent credit and i heard about a novation agreement...can you advise me please...thank you, wanda

wanda, if the lender is open to the novation idea, then that's the only way to go at this point. with excellent credit, as you say, he might be just the right candidate to attempt that with the lender. since you're still on the mortgage, you have the right to contact your lender and discuss it. give them a call, check if it's a possibility.

To remove one person from a mortgage the other partner will have to take over the full mortgage.

This means that the remaining partner needs to be able to prove that they have sufficient income to support the monthly payments on their own.

In the case of divorce or legal separation, Mortgage lenders are more flexible and will consider maintenance income from the leaving partner if it applies. The first thing you should do is ring the lender and ask what amount of income they would need to see to support the outstanding loan amount. You should then ask what sort of evidence they need for your income: it may be payslips (plus a letter from the courts if this applies), or just a letter from the departing person.

If your current mortgage lender will not allow the remaining person to take over the mortgage alone then the next option is a remortgage with a lender who will.

i'm pretty skeptical that lenders are going to consider "maintenance income" that has not previously been paid. a history of receipt of such payments is generally necessary for it to be considered. in 2010, it's particularly difficult for divorcing or separating spouses to assume an existing loan or obtain a refinance to pay off an existing loan.

it's absolutely worth contacting your existing lender to sound out the options, of course, but i have to say i'm pessimistic.

how can I get my name removed from a loan my ex-husband took out to consolidate his debts

Hi Sue,

You can get your name removed from the mortgage only if your ex-husband refinances the loan in his name. If he cannot refinance, your name will remain on the loan and your credit will get hit if he defaults.

ive lived with exhuband the last 10 years but the house was given to him in the divorce i never signed anything, my name is still on the mortage how does that work

To robin brown,

As your name is on the mortgage you are still responsible for it. You've mentioned that the house was given to your ex-husband in divorce. Was he asked to take over the responsibility of the loan and remove your name from the mortgage? If he was asked to do so, you should not be responsible for the loan. You can even take legal action against him if he has failed to follow the court order. But if there was no such court order asking him to refinance the loan to take your name off the loan, you do not have much option.

I bought a condo with my brother 5 yrs ago and he has not lived there or paid on the mortgage for over 4 years. Obviously with this market I am way upside down with my loan and I am trying to apply for the programs that are being offered to modify my loan. I am currently in an ARM and would like to get a fixed loan and even reduce my payments. However, when they look the loan they consider my income and my brothers income and combined we make way too much to be elgible. He wants to let it go but I want to keep the condo, but I do need some type of loan change. IS there anything I can do?

my name is on a mortgage with my soon to be ex and on a car loan he has them both i dont want them but i want my name off of them so i can move on with my life what can i do