Posted on: 06th Feb, 2009 02:26 pm
My husband and I are divorcing. Our house has a federal tax lein or two in his name. The leins are for over two times the value of the house. Only my name is on the mortgage because he had poor credit at the time we purchased. He has since completed a personal bankruptcy. However, in this state property is jointly deeded by law, so his name is on the deed. Is there any way for me to get out of this entanglement?
hi sspayne,
what i understand from the facts presented here is, names of both of you appear on the title to the property, while only yours is on the mortgage. now, you want to get your name off the mortgage. to get rid of your mortgage responsibility, you can take help of the novation process, which allows you to replace you as the old debtor with a new debtor (here, your husband), with the creditor's approval. this way, you can get rid of your mortgage liabilities.
any further queries are always welcome.
what i understand from the facts presented here is, names of both of you appear on the title to the property, while only yours is on the mortgage. now, you want to get your name off the mortgage. to get rid of your mortgage responsibility, you can take help of the novation process, which allows you to replace you as the old debtor with a new debtor (here, your husband), with the creditor's approval. this way, you can get rid of your mortgage liabilities.
any further queries are always welcome.