taking name off of joint ownership

[clhoss]

I just got divorced, and now my exhusband wants my name off of the mortgage loan, and wants me to pay $3000 for it to be removed. He knows I do not have this kind of money..what should I do? This was NOT taken into consideration during the divorce proceedings. Everything that we owned, from vehicles to the house are in both of our names. Please help me as soon as possible. And thank you for your time.

 

[Tracey]

If he wants your name off the loan & title, let him pay for it. Where is he coming up with the $3000 figure? A new deed shouldn't cost more than $200. Is he trying to get you to pay his refinancing points? Tell him you'll sign a quitclaim deed when you receive notice from the bank that he has refinanced & you are is no way liable for the loan anymore. Until then, don't sign the deed!! All you do is leave yourself liable on the loan & give up any ownership rights. It's a raw deal.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.