Is there a way to remove my soon-to-be-ex spouse's name from the mortgage without refinancing or assuming the loan?
[b:055ea169eb]Quick Overview of Situation[/b:055ea169eb]:
[list:055ea169eb]I may need to do a short sale, and I don't want [i:055ea169eb]both[/i:055ea169eb] of our credits to suffer. Just mine will be fine.
[/list:u:055ea169eb][list:055ea169eb]We will most likely not profit from the sale of the home due to a declining market. We have agreed to split any proceeds from sale (completely amicable, not an issue).
[/list:u:055ea169eb][list:055ea169eb]I don't believe a refi is an option for three reasons: 1. We have no equity, 2. I have no money for closing costs and 3. If I refi, I fear I would then not qualify for an immediate short sale, and I might be stuck with the house for some time longer than desired.
[/list:u:055ea169eb][list:055ea169eb]Assumption is time consuming and costly, and I would rather avoid this option.
So I bring us back to my initial question - is there any way to remove her name from the loan so that I can short sell the home if necessary?
Perhaps a better question would be - what is the best way to go about this?