Will he have to get a new mortgage (details inside)?

Question

My friend recently got a divorce from his wife, and he bought her out and kept the house. She signed a quit-claim for the property. She wants her name to be removed from the mortgage so that she is no longer responsible. The current mortgage has an excellent interest rate. My friend is wondering if he can have his ex-wife's name removed from the mortgage so that she is no longer legally responsible for anything, or will he be forced to refinance and get a new mortgage, possibly at a much worse rate?

Answer 1

As a practical matter the lender will not just release the ex from the note, your friend will have to refinance on their own, even if it means a higher rate  I am sure the divorce decrees this as well  

Answer 2

Unfortunately for your friend, refinance is the only way.  

Answer 3

He will need to refinance completely.  There is no other way to remove a name from a mortgage.  Lenders simply won't do it.

Answer 4

As an appraiser I have heard of Judges ordering a party in a divorce to get the property refinanced. If not, she will remain legally responsible until you either sale or refinance.  

Answer 5

Only way to remove a name and responsibility from the mortgage is to refinance.