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How to remove a name from a joint mortgage

Homes are expensive, and most home buyers apply for a mortgage with a co-debtor. This can be a spouse or family member. While having two people apply for a mortgage loan improves the approval odds, situations can arise in which one person wants her name removed from a joint mortgage. Unfortunately, removing a name from a joint mortgage is easier said than done. However, there is a way to get around this problem.

Maintain a high FICO score and steady employment. To remove a name from a joint mortgage, the person who remains on the mortgage loan must be in a position to pay the monthly payment on his own. He'll need a decent credit score, reliable employment and sufficient income.

Refinance the mortgage loan. Unfortunately, removing a name from a mortgage loan isn't as simple as calling the mortgage company and making a request. To achieve this, you'll have to refinance the home loan. The person who chooses to remain on the mortgage needs to contact a lender and complete a mortgage application.

Present your divorce decree. Refinancing a home loan does not automatically release you from liability. To have a spouse's name removed from a joint mortgage, you'll need to provide the lender with a divorce decree.

File a quitclaim deed. If you're divorcing a spouse, you'll need to contact your attorney and request a quitclaim deed. Your spouse signs this document at closing, and it transfers ownership of the home to your spouse. In return, you relinquish all interest in the property.

About the Author

Valencia Higuera is a freelance writer from Chesapeake, Virginia. She has contributed content to print publications and online publications such as Sidestep.com, AOL Travel, Work.com and ABC Loan Guide. Higuera primarily works as a personal finance, travel and medical writer. She holds a Bachelor of Arts degree in English/journalism from Old Dominion University.

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