I have a question for the world’s premier forum.

Through divorce proceedings husband and wife are both left on the deed to the property and on the mortgage. The ex-husband currently lives in the home but is constantly 30-90 days behind. The wife wants out from the house, to repair her credit and move on. The ex-husband has been trying to sell the home for the past 2 years (there is no equity).

How do I proceed (if at all) to help the ex-wife get out of from under the mortgage?

Thank you in advance for the world class answers.

Circle M Squared

Howdy CirclemSquared:

No equity and probably a $150,000 house that may rent for $1000 at best with payments about $1200 PITI. Run away fast. There are better deals out there. If this is not the case and you can lease and make money and get for near zero down it may be an OK deal if you want to wait and let the equity grow. Many will say go for a deal like that and still others will say why bother. Make your money when buying at 80 % of retail or less. I still like zero down no qualifing but have not done any no equity deals in a while. I am looking at one in Killeen, North of Austin for $56,000 that rents for $650 and has a $450 payment. Not too bad if it needs very little repairs.

I can not say do not do it but only offer advice that it may be a so so deal at best. At least the one I am looking at has a positive if 100% collections and no repairs. This never happens in real life but I used to do deals like the one above and thought I was a super star because it was 0 down.

Good luck and let us know what happens.

Thank you for your reply.

Not neccessarily trying to put a deal together, just trying to help out, then figure how to make a buck.

How does the ex-wife, remove her name from the mortgage. The ex-husband wants to continue to sell the home FSBO at the expense of not making timely payments. This is killing her credit, and after 2 years she wants to move ahead.

What if anything can be done?
It is my thought that the divorce lawyer did a sloppy job leaving her on the mortgage.

Can the home be refinanced leaving her name off the new loan?


As far as I know, the only way her name will come off of the mortgage is if it is paid off, or she dies.

Howdy CircleMSquared:

Bobo is right. The loan will have to be paid off. When she applies for a new loan she can give reasons for late payments. A lot of lenders will still make her a new loan on another house. She could step up and make payments current and make sure they are current but exhusband may see this as a good time to live free, plus she probably can not afford to do so. This happens often in divorce and I do not know how to help. The mortgage company will not release her. Probably not much her attorney could have done either. Good of you to try to help.