Divorced. Stuck with the mortgage. What should I do?

[Account Closed]

Hello All,

I am divorced and own a rental property with my ex. He paid me certain amount of money to have my name removed from the deed and I agreed. But I found out later that it did not remove my name from the mortgage. I have been asking him to send the Liability Release Form to Chase, but he has been procrastinating. He has been taking care of the rental property when we were together, so he has all the information. I really want to get out of this. What else can I do? Thank you very much! 

[Dion DePaoli]

A divorce wouldn't trigger DOS.

If you are a borrower on the loan and signed the note as mentioned above chances are the bank will not release you.  It is their option not your ex-husband's.  If you simply signed the mortgage then you have already removed your interest from the property by executing and recording a Quit Claim Deed.  Removing yourself from title doesn't remove your obligations under the note.  Unless he was specifically order by the divorce degree to refinance the loan then there probably isn't much you can do.  Chat with your divorce attorney about remedies in your jurisdiction.