If both of you and your former spouse is named on your home loan, the major credit bureaus can not eliminate the account from your credit ratings. You are still liable for the loan, even if your separation mandate appoints an obligation for payment to your ex. Remaining to have a home loan with your former spouse isn't good. The joint debt will remain to show up on your credit reports as well as theirs, perhaps restricting either party from the ability to obtain a brand-new home mortgage in the future. If your former spouse makes late payments or worse, payment defaults, or has a bad credit score, your credit record will be damaged as well. Having a joint home loan is a recurring responsibility you might favor not to share or may make points harder going forward. However, it isn't basic to get rid of one partner or the various other from a mortgage. If you got approved for the finance with each other, your lending institution most likely will not want to simply eliminate one party from the funding. Instead, you may have to refinance, market your house or repay the finance in order to make a clean break.