Is a Loan Modification a new loan?

[wytknyt]

I went through a divorce recently and my ex, as per the divorce decree, has to refinance the house into her name only. It is currently in both of our names and she is having problems making the payments so my credit is suffering as a result. She is trying to go through the Loan Modification process with Chase. She is making the trial payments. So my question is if they go ahead with deal will my name be taken off of the loan? They haven't had me sign anything so far.

Thanks

[Moe Bedard]

Nope. It's a modification of your original mortgage. You can try and see if they will modify the loan and take you off as a borrower, but that is highly unlikely. They want you on the hook and the more the better for them.