CCan my spouse remove me from a mortgage and leave me on the deed?

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My spouse has been paying our mortgage. He now wants to remove my name from our mortgage, but not from the deed. Is this legal without my signature? What are my advantages to removing my name from the mortgage loan. What disadvantages are there? Can this be done without my signature?

Attorney Answer

1
Robert Mauger ·
If you're married and staying married, it might make sense if for some reason he can get better financing/refinancing for the property in his own name rather than both of yours. This might be the case if you have much worse credit or income. One consequence is that you would no longer have the debt in your name, but also would maybe miss out on the credit benefit of reporting on time payments for a loan. It wouldn't have any bearing on who owns the property--you're both on title--but if divorce is contemplated at some point there may be inferences drawn that he's contributed more to to home and has a greater equitable argument to keep it (although you might talk with a divorce attorney, I don't practice in the area). If the loan with both of your names is paid off as part of the refinancing, he probably does not need your signature on anything to refinance in his own name, but that's a better question for his mortgage lender.
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