How can I get out of a mortgage?

UPDATED: Oct 1, 2022

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How can I get out of a mortgage?

Two people buy a house. Both are on the mortgage and deed. One person moves out, pays nothing for the expense of the house. Refuses to sign off. The person that stays can’t do anything with the house without the other person agreeing to sign paperwork. The person that stays pays for everything taxes upkeep mortgage utilities, etc. I have owned the home for 14 years; the other party moved out 11 years ago and I am still here paying 5 7/8% on the mortgage. If I sign a quick claim deed and just give the house to the other party so that I can move on will it ruin my credit

Asked on July 15, 2019 under Real Estate Law, Pennsylvania


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can't get out of the mortgage without paying it off or having someone (e.g. your co-owner) refinance solely in his/her name. The morgage is a contract between on the one-hand, the borrowers (you and and your co-owner) and on the other hand, then lender. As with any contract, it cannot be changed or modified, including to remove someone, without the consent or agreement of all parties to the contract/mortgage: i.e. your co-owner and the lender would both have to *voluntarily* agree to release you from the mortgage. And it is very unlikely that they would do this: for example, releasing you hurts the lender, by reducing the people it can seek payment from, without giving it any advantages  or benefits whatsoever. Even if you were to quitclaim your interest in the property, you will remain liable on the mortgage.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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