I have been divorced from my husband going on two years. Can he ask for a loan modification to remove my name from the mortgage so that I can purchase my own house?
State laws may vary, as will lenders' practices. The loan could be modified, but the divorce court order that addresses the ownership of the home and who gets paid what has no bearing on the lender. That is, if the court said you could be released from the debt and your husband would own your half of the home, the lender doesn't have to release you.
If your now ex-husband qualifies for a new loan, he may be able to refinance or modify the loan with just his name with you releasing your interest in the property, but what is the lender's incentive to do this? At this time, they have collateral and two people who are obligated to pay. Why should they release you?
This would only be done if your ex qualifies for a loan on his own and he is buying your ownership. The property would also have to meet current valuation requirements for the lender. In some areas of the country, property has depreciated. Then the issue is what is the loan balance compared to today's market value? What you are asking is possible, if the conditions are right.
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State laws may vary, as will lenders' practices. The loan could be modified, but the divorce court order that addresses the ownership of the home and who gets paid what has no bearing on the lender. That is, if the court said you could be released from the debt and your husband would own your half of the home, the lender doesn't have to release you. 