Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
coby1

1 Contribution
0 People Helped
Credit score good debt to income bad how to get off house after the divorce? that's what's hurting
Ok I have more room to write here. My credit score is good but my name is still on the house after the divorce. I gave the ex the house. This is making my dbt to income ratio out of whack. How can I get my name off? I am not sure if she can refinance.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
5 Contributions
32 People Helped
Most Helpful Response

Check with a divorce lawyer

Helpful to 3 out of 4 people

I think you'll need a lawyer to answer this authoritatively, but my understanding is that creditors may not have to release you from the mortgage even after a divorce if you are a cosigner on the loan. Although the divorce settlement may have given her the house, this doesn't change the terms of the mortgage, which you signed years ago while married. Both your names are on the loan - the divorce doesn't change that. So what you can try to do is to contact the lender and ask them how you remove a cosigner from the loan. They may then require an underwriting process to see if your ex can qualify on her own. Obviously you'll need her buy-in to do this.

Reply by
coby1

1 Contribution
0 People Helped
Helpful to 0 out of 1 people

Thanks Dave, guess I should of just sold it a split it to begin with. It doesn't always pay to be the nice guy.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.