Legal Question in Real Estate Law in Massachusetts

Re: Selling my half of the mortgage

If you signed the mortgage and note, then you are responsible for payment even if you do not reside at the home. In the event of foreclosure, if the house is sold for less than what is owed, you will be jointly responsible with you ex girlfriend. You options are: 1) sell your share to your ex, she would need to re-finance to payoff the current mortgage and she would be solely liable for the new loan or 2) speak to the lender to see if they would release you from the obligation or allow you to assign this to someone else (perhaps the new boyfriend). In option 2, your ex probably would want you to convey your 1/2 of the home to her in order to release you from your obligation. It may make sense to first speak with the lender to see if they would be totally against leaving your spouse as the sole person responsible. The easiest solution is to have your ex buy you out. In most cases, a buyer will not want to buy your half and be joint owner with you ex. There are two issues in this question 1) ownership of home - title; 2) obligation to pay mortgage.