How do I get released from a mortgage share with my spouse? If he agrees, can he release me legally? HELP!!!?

Posted by a dear friend who wants to help.How do I get released from a mortgage share with my spouse? If he agrees, can he release me legally? HELP!!!?
Well, here you go..I do foreclosures for a bank so I answer this every day...








When you get a house there are 2 documents...one is the deed of trust or mortgage (depending on what state you live in) they are the same thing. This is the actual TITLE to the house. The other document is called the NOTE...this is the lien on the house that is from the bank.





With the deed of trust/morgage you both had to have signed it if you got it when you were married. To get taken off, you have to sign a Quit Claim Deed and have it filed with the court house. Your divorce atty can do this...BUT...here is where it gets tricky...





Even if you sign that, you are signing your claim away from the property. By no means does this mean you are released from the NOTE (the actual LOAN) If you signed the note then you are responsible for the loan until it pays off or is foreclosed. Banks do not recognize civil suits and that is what a divorce is....you promised the bank to pay the loan every month until it was paid off...no clause in there that states until paid off or until divorce.





Now, here is the more tricky part...you have to look at both documents because law required both married people to sign the deed of trust/mortgage but only one has to sign the note. Sometimes if one party has better credit and the other doesn't the one with the better credit will have had the note set up in his/her name only.





Look at both documents...if you are on the NOTE do NOT sign the quit claim until the other party refinances.....because if you sign away your rights to the house, you are still responsible for the loan and have no interest in that house...bad bad move. Use it as leverage to get the other person to refinance so the loan will be paid off. Good luck to you. I see this all the time.How do I get released from a mortgage share with my spouse? If he agrees, can he release me legally? HELP!!!?
Your spouse will have to refinance the mortgage i.e. get a new loan in his/her name only. You can't just have your name taken off a mortgage...you are contractually liable. Sorry.