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In loan modification, can a borrower be removed from the mortgage?

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lconners Joined: 27 Oct 2009 Posts: 1 1.27 Dollars($)	Posted: Tue Oct 27, 2009 12:42 pm    Post subject: In loan modification, can a borrower be removed from the mor I am recently divorced, was awarded the home. I cannot refinance because my credit score is too low due to bills not being paid by ex husband. My family keeps telling me that I can do a loan modification. But I am saying no because that will not remove his name.
jenkin7 Joined: 04 Jun 2007 Posts: 4320 Location: Hawaii 683.42 Dollars($)	Posted: Tue Oct 27, 2009 11:38 pm    Post subject: Hi lconners, A loan modification will not remove a borrower's name from the loan. It also changes the terms of the loan so as to reduce the monthly mortgage payments. You can remove your ex's name from the loan only if you refinance in your name or assume the mortgage debt.

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