Hello Samantha,Thanks for responding! I am on the loan and I have told/ask US Bank to take my name off loan, etc. all the representatives tell me that the deed is the reason my signature wasn't needed.
How will the courts eat me alive? It seems like it would be a straight forward case, no?
Any other insight/ advice?
what do you think a lawyer would charge me for this type of case?
Just my 2 cents, but it would cost you thousands of dollars to hire an attorney and take your case to court. What exactly would be your case standing?
The fact is that in today's housing markets it's extremely difficult to remove a borrower from a mortgage unless there's sufficient equity in the property. There are really only three ways to remove your name from the account - a refinance, assumption or just to sell the property outright.
I'm assuming the reason he was unable to refi was due to being underwater? And many mortgage products nowadays prohibit assumptions. IMO it was probably best for both parties that he completed the loan modification. If your credit score took a hit he was likely behind on payment and in danger of foreclosure, which if that occurred would have taken a major tole on your credit and prevented you from financing your own home for years down the line. I recommend you do as Jeffrey suggested, "start with the ex and then get the bank to take you off. You need to tell the bank they need your signature for the modification and they don't have one."