How do I go about removing my name from a mortgage?
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How do I go about removing my name from a mortgage?
I am the primary name on a loan for a mobile home that was purchased in 1995 with a former boyfriend. We split up and agreed for him to live in the home because it is on his parents property and I would keep the car. I remember him having me sign a power of attorney so he could
Asked on January 13, 2017 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Actually, you *can't* remove your name from the mortgage unless *all* parties to it--which includes the lender--agree to remove you; a mortgage is a contract, and the consent, or agreement, of all parties to a contract is necessary to change it, including by releasing one of the parties to the contract. The lender is very unlikely to agree: letting you off the mortgage gives them nothing and in fact hurts them, by reducing the number of people responsible to pay the mortgage (and whom they could sue).
So effectively, to get you off the mortgage, the mortgage must be paid off or refinanced in your former boyfriend's name. You may be able to sue your ex-boyfriend to enforce the agreement that he would take over the mortgage, to get him to refinance; speak with a real estate attorney about this, if you want to explore this option.
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