Legal Question in Real Estate Law in New Jersey

getting off of his mortgage

My husband and I split up about 2 years ago. I thought that because I signed the deed over to him, that meant I was off the mortgage (wrong!!!)

I want to purchase my own home but am told by realtors and mortgage companies that I must get off of the old mortagae before I can do this and the only way would be for him to either sell or refinance. I have impecable credit and don't want this to ruin it!

I made him aware of this problem but he is in no hurry.

Is there no hope for me ever owning a home without this burden??

Any input would be greatly appreciated. thank you.


Asked on 9/08/05, 6:39 pm

1 Answer from Attorneys
Dale Lundquist (Solo)

Re: getting off of his mortgage

This happens fairly frequently but in the Property Settlement Agreement made part of the Divorce (or Ordered by the Judge), the spouse getting the property is usually REQUIRED to refinance or otherwise payoff the mortgage for the very reasons you cite: you don't have the benefit of the property anymore but you are still liable on the mortgage loan and it's bogging down your credit.

As long as your ex pays on time, your credit rating won't be hurt but you won't be able to get other credit because the amount owed on that mortgage is counted against you.

If you had a lawyer represent you in your divorce, call him/her and demand they do something. If they refuse, see another lawyer because, unless there are other reasons why the Judge didn't require your husband to refinance, a lawyer's failure to include this in the Divorce Judgment is about as clear cut case of malpractice as there is.

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Answered on 9/08/05, 11:42 pm


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