I hope this is easier than I think. jojo319: We've been married for 1 1/2 years. Wife wants out. I have no interest in keeping the house (memories) and she wants to keep it. The problem is, The house payment is so high that neither could afford it on their own. I'm sure she could find a roommate, but not someone willing to put their name on the mortgage. I guess my question is, Can I get off of the loan if she doesn't make enough alone to pay the mortgage? Why would the mortgage company agree to that? I don't see my wife being the problem, but the bank. Until I figure this out, I'm forced to live in the same house with her. I could stay with friends, but I don't want to pay mortgage in a home I don't live in. I REALLY need some advice on this. Thanks!
Re:I hope this is easier than I think. tazme: My advice is put the house on the market. If she can't afford it on her own, the mortgage company will not release you from the mortgage.
If anyone suggests a notorized statement saying you are no longer responsible & she takes full responsibility -DO NOT DO THIS. My STBX suggested this & I would not agree. The mortgage company will not care about this statement - if your name is on the mortgage - they will come after you if $ is owed.
I had a friend that went through a divorce last yr. Her ex kept a vehicle that was loaned in both their names. He "released" her from obligation of the loan. She then tried to buy a house on her own & was inititally denied because of this outstanding loan. Her ex had to refiance the vehicle to have it cleared from her credit.
This was a CAR - imagine an entire house loan! Either she needs to refiance (and will probably be denied) or you need to sell it. Unfortunetly, this is part of the whole process you have to go through to get a divorce.
Hope this helps!!
Tazme :)
