Can my name be taken off a home eqty. loan.

Asked by Heidiho0369, Bridgewater, NJ Mon Oct 4, 2010

I have been divorced for almost 4 years now. We took out this loan to have repairs done to our home. I do not recall if I am a cosigner or just that the laon is in both of our names. I know that my name is not on the deed to the house. I have moved away and have no legal ties at all to my ex. We divorced uncontested with no lawyers, and wonder if there is anything that can be done to have my name taken off this loan. I will not make the payments for my ex if he can not make the payments.

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Howard "Buck…, Agent, Clinton, NJ
Mon Oct 4, 2010

The first thing I would do is contact the bank and find out if indeed you were a co-signer, or a co-applicant. Depending on the bank, and the type of loan you took out, that may have bearing on what needs to be done to the loan. Many banks used to allow you to have the loan modified, as long as the remaining spouse was able to qualify on their own. This would mean that your ex would need to approve of the request, then qualify after income verification and credit background check.

However, every bank is different, and lending has changed in recent years. I would start by calling and talking to a loan representative, or if a smaller local bank, stopping in their offices.

If all else fails, have your attorney that handled the divorce send a letter to the bank making the request.

Good luck!


Howard "Bucky" Buchanan, SFR
Weichert Realtors
Mobile: 908-566-5547
Office: 908-735-2552 x208
eFax: 908-847-0239
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