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Ok, I’ve attempted (twice in two weeks) to remove my ex-wife’s name from the 2nd mortgage we took out together when we bought our home. (She’s already off the first) The problem is the housing market here, like most areas, has taken some hits. This down-turn has offset any of the gains in equity I’ve seen in the four and a half short years I’ve been in the home. In a nutshell, I can’t get refinanced right now, so, I’m kinda stuck. She’s in a home now, but wants to purchase a newer, bigger home, and thus wants to ensure her maximum borrowing potential . My question is, since we both took the loan out while we were married/together, can she take any legal action to force my hand on this? (I.E., force me to sell the home) I don’t want to sell in this market as I’ll lose my shirt.

3 Thoughts on Follow up to earlier question regarding removing spouses name from 2nd mortage?
  1. Reply
    Beverly S
    February 15, 2014 at 1:58 am

    The only way is to sell or refinance. Are you still married? The mortgage company is not going to remove her name for any reason unless they are paid in full. If you are divorced she can make you sell- If you are married, you both have to agree to it. By having both signers on the note the mortgage company has a better chance of collecting. She can buy another home however if she can prove that you have made all the payments on the 2nd for the last 12 months- she would need copies of your cancelled checks to do this.

  2. Reply
    Loren C
    February 15, 2014 at 1:59 am

    Legally she is stuck with you on this matter. Your only option would be to try and sell it. If you get less than the amount owed, you both will be resposible for the remaining balance.

    By the way if you remove her name from the 2nd mortgage you will be stuck with the entire amount. You both made this decision, you both have to work this out. Removing her name get her off the hook, and you will be stuck with this. DONT MAKE THAT MISTAKE!

  3. Reply
    February 15, 2014 at 2:40 am

    Regrettably I cannot deal with the legal niceties of your situation there as I am in the Uk, and only ever practised here. However, merely think of the commerciality of the situation. IE How much does she want the new home? What may she be prepared to offer you to enable the wheels of her other transaction to be oiled. If her sticking point is credit, then maybe money paid to you, pound for pound,(sorry, Dollar for dollar,) may be better spent than if spent on other premises?

    Think on!!

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