My name is still on the Mortgage

[Tfitzgerald]

What is the name of your state (only U.S. law)? Missouri...My ex wife and I have been divorced for about a year and my name is still on the mortgage. How can I get my name off the mortgage before she defaults on the loan? And if she does default what are my options? I don’t want the house and I don’t want my credit ruined by her. She has lived in the house for the past year.

 

[ecmst12]

Your name only gets off the mortgage if she refinances in her name only.

 

[LdiJ]

Your name only gets off the mortgage if she refinances in her name only.

Or if the house is sold.

 

[nextwife]

Why did you not address this in the divorce?

Your name remains on the mortgage until it is paid off in full. You should have had a provision for her to refi or sell by X date in the agreement.

 

[mistoffolees]

Why did you not address this in the divorce?

Your name remains on the mortgage until it is paid off in full. You should have had a provision for her to refi or sell by X date in the agreement.

Absolutely true.

Once the house goes into default, OP can ask the court for an order for the house to be sold so that he can get his name off the mortgage.

 

[mistoffolees]

Your name only gets off the mortgage if she refinances in her name only.

In some cases, if the party keeping the house has sufficient income, good credit rating, and if there's enough equity, the bank will do a paperwork modification to take the other name off the mortgage for a small fee. Since OP is worried about default on the mortgage, that probably doesn't apply here, but it is another option.

 

[nextwife]

In some cases, if the party keeping the house has sufficient income, good credit rating, and if there's enough equity, the bank will do a paperwork modification to take the other name off the mortgage for a small fee. Since OP is worried about default on the mortgage, that probably doesn't apply here, but it is another option.

Howver, their willingness to do this AND a requirement that the "party in possession" promptly submit and process one needs to be established up front, before the other party relinquishes their part of the house.