Removing a Spouse’s Name from the Mortgage

There are 2 ways to remove a spouse’s name from the mortgage:

  • Release of liability – You can ask your lender for a release of liability. This is a document that releases a borrower from their obligation to pay back the loan. The spouse remaining on the mortgage needs to qualify for the new loan using only their income and assets.
    Note: This option is investor specific, there’s no guarantee that it will be approved, and there are fees associated with the transaction.
  • Refinance – The only other option is to refinance the mortgage. When you do this, the spouse remaining on the mortgage needs to qualify for the new loan using only their income and assets.