Loan assumption

[Anonymous]

I'm trying to get off my ex-husband's mortgage and he refuses to refinance.  If he does a loan assumption, will this take his mortgage off my credit? 

[RobertEG]

Did your divorce decree include any directives as to the disposition of joint accounts?

Is it even a joint loan?

It is stated that the mortgage is his.  You are not listed on the loan?

If not, why is the credtor reporting to your credit file?

[Anonymous]

It is a joint mortgage and in the divorce decree he was to refinance by 2013 but is still refusing to do so.  I own my own home and refinanced to get his name off of it (as the divorce decree said to do) so I now have 2 mortgages showing up on my credit report making my credit to debt ratio way out of whack.   

[RobertEG]

Then you need to go back to the court and advise that he is in contempt of their order.

He cannot unilaterally determine that he does not wish to comply wth an order of the court.

[Anonymous]

---

@Anonymous wrote:

It is a joint mortgage and in the divorce decree he was to refinance by 2013 but is still refusing to do so.  I own my own home and refinanced to get his name off of it (as the divorce decree said to do) so I now have 2 mortgages showing up on my credit report making my credit to debt ratio way out of whack.   

---

The good news is that the courts have much more power and influence than us.

Ex spouse will be in a world of hurt once the weight of justice hits ....

You are in the right...

Good luck

[Anonymous]

But would a loan assumption take me completely off the mortgage so it would no longer show up on my credit?  He is extremely difficult and so this could be a solution he would be willing to do.   

[RobertEG]

Looks like a matter to be handled by your divorce attorney.

i would pursue what is best for you.

An assumption of a loan that is jointly held by parties under conflict could be a nightmare.

A simple dissolution of the existing loan would likely be a lot cleaner.