Taking name off the deed, keeping it on the mortgage - ruin my credit?

[Nicholas Henry]

Hey everybody, I'm in a situation I never saw coming, and hoping for a little advice. I bought a house with my ex, and after a few years, we split up (on good terms). She wants to buy me out of my share of the house, which I fully support. The thing is, our mortgage is at about 2.8%, and I don't have to tell you how much higher it would be if we refinanced to get the mortgage in her name alone. So:

Am I right in guessing that if I sell her my stake in the house and take my name off the deed, but I leave the mortgage alone (with both our names on it), my credit score would plummet? 

Thanks!

[Chris Seveney]

Quote from @Nicholas Henry:

Hey everybody, I'm in a situation I never saw coming, and hoping for a little advice. I bought a house with my ex, and after a few years, we split up (on good terms). She wants to buy me out of my share of the house, which I fully support. The thing is, our mortgage is at about 2.8%, and I don't have to tell you how much higher it would be if we refinanced to get the mortgage in her name alone. So:

Am I right in guessing that if I sell her my stake in the house and take my name off the deed, but I leave the mortgage alone (with both our names on it), my credit score would plummet? 

Thanks!

 your credit score would not plummet, but you are still responsible for the debt so it will still show up on credit and it will impact your ability to get credit.

The only way for her to truly buy you out is to refinance and take your name off of it.

My recommendation would be to sell the property, as you may be on good terms now but that does not mean you will be on good terms in the future.