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creeheart · Joined: 10 Oct 2010 Posts: 1 1.38 Dollars($)

My ex husband and I still are owners of our California home. We are in arrears for over a year and have been trying to short sell it for a year, but to no avail. We have been divorced for 3 months and have moved on to different states leaving out realtor to continue to short sale. I want to get on with my new life and do not want to be connected to him in anyway. Can I transfer the property into his name only? And if so, what will happens with the mortgage that we are co-borrowers on? Will I still be responible for it? I do not have a job and haven't had one for over 3 years now (the reason we got behind in the first place), will that make a difference or are we just better off telling the realtor to just let it be forclosed on, and letting the chips fall where they man?

jameshogg · Posted: Sun Oct 10, 2010 9:13 pm Post subject:

Hi creeheart,

You can quitclaim the property to your ex-husband but this won't remove your name from the mortgage. As you're a co-borrower of the loan, the lender will come after you for the mortgage payments. Whether the lender forecloses the property or goes for a short sale, it'll have a negative affect on your credit report.

Thanks

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