How can I do get myself off of a mortgage?
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How can I do get myself off of a mortgage?
I just found out 4 years later that my ex husband has not taken my name off mortgage as agreed. I have talked to the mortgage company 5 times trying to resolve the release of liability. They told me I could do this, and even sent me paperwork for myself an ex to fill out and sign. However, the only thing that the mortgage company is making clear is they want $900 to review taking my name off. So basically I could just be throwing money away because this money is not refundable. The ex was supposed to do this after divorce but even though he did not, I am willing to pay the full $900 to get this done. What can I do about mortgage company giving me the run around? Also, if I’m still on the mortgage does that me I’m still on the deed?
Asked on November 29, 2010 under Family Law, Tennessee
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
1) Being on a mortgage does not necessarily mean you're on the deed.
2) If the problem is that your ex-husband has not done what is required of him, then you would have no recourse against the mortgage company--though you may have grounds to sue your ex-husband for his violation of your agreement. (But see point 4, below.)
3) Note that as a general matter, a lender does NOT need to allow a debtor to be taken off a mortgage UNLESS the mortgage is paid off in some fashion (e.g. refinanced and replaced by another mortgage without that debtor on it). There is no general right to be excused from or allowed out from a mortgage, so if mortgage company is willing to let you do this, they can charge for the process.
4) Since the mortgage company is not obligated to take you off the mortgage without the mortgage being paid off, it's not clear that the agreement you have with your ex husband is enforceable unless the mortgage company was a party to that agreement or otherwise has indicated they are willing to be bound by it; otherwise, unless the agreement was for your ex husband to refinance the mortgage in his own name, the agreement between you and him may have been for something that he simply cannot do.
You should have an attorney review any and all agreements and paperwork with you; this may be a complex matter to resolve.
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