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PMBAZ

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Have mortgage removed from my credit reports or not
I declared bankruptcy and had my responsibility for a home mortgage erased as well as signed a quick claim deed. I have spoken with WFHM and they agree, in writing, that I have no financial responsibility for the loan anymore. It is still on all three credit bureaus. My ex-wife is current on the payments. My question is ... Is it better to leave it on my credit report because it is being paid on time or should I have it removed because it is no longer my responsibility and I already have the credit ding due to the bankruptcy? The loan is for a little over $212,000.

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I would say that if it is in positive standing, leave it there as it will have a positive contribution to your credit profile. If your ex becomes delinquent on the loan at some point in the future, then get it removed. You also may want to remove it if you are going to go for a loan as it may have a negative impact on your debt to income ratio, but for now I would probably leave it be.

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The mortgage should now be in your ex's name but the fact that you both owned the house will remain part of your credit report for at least 7 years after she became sole owner.

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