What to do if I divorced 8 years ago and my ex received the marital home in the divorce but my name is still on all the bank paperwork and it refuses to remove me from the account?

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What to do if I divorced 8 years ago and my ex received the marital home in the divorce but my name is still on all the bank paperwork and it refuses to remove me from the account?

Per divorce degree, it states that I am not liable for that debt but the bank insists that i am. How do I have my name removed? Ex states his credit isn’t good enough to refinance in just his name. But this is killing me.

Asked on November 25, 2012 under Family Law, Missouri

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Since the bank was not a party to your divorce, they are not bound by its terms (although your ex is). Consequently your are still liable for the mortgage debt. If a refinance it not possible, there is something else that you can try in order to get removed from the mortgage.

He can ask the lender to allow a "novation" to remove your name. This could be accomplished by your ex- husband demonstrating thatshe has paid the mortgage without your assistance. Assuming that he is current with the monthly payments and has never been late in making them, the lender may allow that your name be removed from the mortgage without his having to refinance. A "novation" may also be obtained if he "buys" your release from the mortgage by making a substantial payment to reduce the outstanding balance. While novations are only rarely allowed, it is still worth trying. At this point, you may want to consult directly with an real estate attorney in your area as to this matter.


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