Can I get my ex out of our mortgage without refinancing?

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Divorce tends to complicate finances, so it’s important to know your rights.

There is an inexpensive way to get your ex off your mortgage.

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How do I get my ex out of our mortgage?

Usually, getting your ex off your mortgage would require refinancing. Refinancing can be expensive, especially right now with the current rate of inflation. However, there may be another way.

In order to understand the process, you need to know the difference between a promissory note and mortgage documents.

A promissory note is the obligation to repay the loan. The mortgage document is what creates the lien on the property.

The person who signed the promissory note is the person who had the credit for the loan. Therefore, whoever signed is legally responsible for paying what is left on the house.

If you signed the promissory note and your ex is not on it, a quit claim can transfer ownership and interest to you. Quitclaims are used to transfer property from one person to another.

However, if your ex is on the mortgage, his name will remain there until it is paid off. If your ex is ready to release his name from the mortgage, you can try talking to your lender.

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