How to remove one party from a mortage

there's not much you can do about that situation. the only way in which title can be changed is by agreement, unless you ask the court for a ruling as part of the divorce.

what will be the disposition of the home when the divorce is through?

i'm a co-borrower on a mortgage for my brother about two years ago since he was unable to get a mortgage with his credit score. i'm wanting to release my name from the mortgage. he have went to our mortgage lender and he said they have denied him his request to refinance with his current credit score even though he haven't had any late mortgage payment in the last two years and also with his high income.

i'm planning on buying a house and need to remove my name from his mortgage so that i can get a mortgage of my own. is there anything i can do to remove my name from his mortgage if he's not willing to refinance or his unable to with his low credit score?

alex, if the payments on that mortgage have been made on a current basis for at least the previous 12 months by your brother (and not you), then you can provide your new lender with that documentation and ask that they not consider your having cosigned the loan against you. before you do so, however, check with your favorite lender and others to ensure that providing that information will, in fact, be beneficial to you.

I would like still like to remove my name from his mortgage just so that I will be relieve from any obligations. What ways do I have besides refinancing since he said the bank would not approve his refinance request?

alex the word "novation" gets tossed around a lot on this site. i don't subscribe to the theory that lenders will allow novation, but here's what it is:

you and your brother can visit the lender and request that they change the loan to reflect your removal from the obligation. you'd have to present a compelling reason for them to do so, and from your post, i believe they'd be compelled to keep as many people obligated as they could. your brother's credit record is clearly going to be an obstacle. keep in mind that your brother has to be amenable to the arrangement as well.

also, is there any legal actions I can take if he does not want to refinance and for some reason decided to let the house be foreclosed? He has been making payments for the past 2 years and I do not want this to hurt my credit. What can I do to free myself from this situation? Please advise me. Thank you.

In my above situation (My mother, my sister, and soon to be x-brother-in-law). They want to sell the home (a cabin, not a primary residence), but in this market, and with the soon-to-be x refusing to lower the price to be competative or agreeing to buy the others out, and fighting the divorce.... it seems probable that the situation could go on a number of years. Does my mother have the option to take him to small claims court to collect his portion of each monthly payment? (payments come out of her account each month) Also, can he be banned from the property since he doesn't pay?

the way i see small claims court is this...if someone has a debt with another party (person or business entity) and fails to pay that debt, then the injured party has the right to sue for payment. since it is not at all obvious that the son-in-law has a debt to his mother-in-law, i don't see any way in which a court would allow such a suit to be successful. that's not saying someone can't do as you propose - sue another debtor for a portion of a payment. it's just that the likelihood is that it'll be a colossal waste of time and energy, along with the filing fee. keep in mind that every one of the debtors is obligated to pay the entire mortgage payment...under the terms of the note, they are not merely liable for one-third of the payment.

i don't see small claims or any other court as a solution here, though the divorce court (if it gets there) might have some standing to make decisions about the house.