Is it possible to remove one persons name from the mortgage if you can show that you are able to maintain the mortgage without them on it? We have a 3% interest rate, and to refinance at today’s rates would add $2k/month to the monthly payment, which, ironically, I could then not afford. What are the chances of being able to remove someone from the mortgage and title without refinancing?
When I got divorced I was able to “assume” our mortgage loan in order to get his name removed. Please call your lender and see if this an option for you as well. I was so happy to find out that I was able to qualify without my husband’s income and keep the house at that time. 
@Paz
Thank you! This gives me hope
Talk to a lawyer. This will still be handled with lawyers.
Talk to a lawyer. This will still be handled with lawyers.
There is literally no reason to talk to a lawyer about your mortgage. It won’t matter what the lawyers or judge say.
If the loan closed after June 2013, page 4 of your closing disclosure will say if the loan is assumable…if it says no (upper left corner), don’t give up hope. Some lenders (not your servicer, but the investor,) will allow assumptions after life changing events such as death and divorce.
I do not recommend you call and ask. It’s been my experience that a lot of customer service representatives aren’t very familiar with assumptions. After the divorce, send a written request to assume the loan to remove the other borrower and include a copy of your divorce decree.
@Drue
I am a builder and real estate investor. Real estate can be one of the messiest transactions if not handled correctly. Unless OP is an expert on federal and state laws regarding real estate then the OP absolutely needs an attorney for the divorce which will also help OP through the nuances of the transaction. There is no point in risking an error in a transaction this critical or financially impacting.
@Paz
Did you have to pay a portion of the amount due to assume it?
Remy said:
@Paz
Did you have to pay a portion of the amount due to assume it?
Depending on a number of factors, you may need to pay your ex half the difference between the current value and what you owe.
@Gale
Easily done with a HELOC. Only government loans are assumable, though.
There’s few to no chances you’ll get them off the mortgage and title without refinancing. This is part of the divorce process and should be considered beforehand.
Either keep them on (don’t recommend) or sell. You both qualify for that 3%, you don’t qualify for that 3%.
@Marley
This is not true. Some lenders will allow one person to assume the loan, this is what I did during my divorce. I kept the same exact terms because I was able to qualify on my own.
Paz said:
@Marley
This is not true. Some lenders will allow one person to assume the loan, this is what I did during my divorce. I kept the same exact terms because I was able to qualify on my own.
I agree, informed the mortgage company and filed a quit claim in my case.
@Oaklan
Informing the mortgage company and filing a quitclaim does not mean they let you assume the mortgage on your own. The mortgage company needs to remove/agree to remove the spouse from the note itself so they are no longer liable. Anyone with an interest can quitclaim property to anyone at anytime, it doesn’t change who is liable on the note itself.
@Slate
This is really important… I was removed from the mortgage but not the note itself. This became a huge issue when my ex stopped paying and defaulted.
It took me years to clean this up.
Paz said:
@Marley
This is not true. Some lenders will allow one person to assume the loan, this is what I did during my divorce. I kept the same exact terms because I was able to qualify on my own.
When the loan says “non-assumable” is that not a blanket statement, or are there exceptions?
@Colby
Transfers within families and with divorce can occur. Ppl have to otherwise qualify but can keep same terms- if want different it’s an entirely new loan. Perhaps different states have different rules but I was involved in a similar situation where due to situation there were options available to assume loan. Check out the divorce and mortgage laws for your state.
@Colby
There are exceptions.
Divorce and inheritance are a couple of those exceptions.
@Colby
Only government loans are assumable. If it says it’s not assumable, it’s definitely not assumable. Conventional loans make up 90% of the mortgage industry, and they do not allow assumptions. Though possible for the right people (lots of cash), they’re usually just a talking point Realtors use to start conversations and get interest on properties they’re listing.
Edit: Conventional ARMs are assumable, but are very rare.
@Colby
Federal Housing Administration, Veterans Administration, some additional government backed programs or guaranteed loans