The divorce court may have separated the debt responsibility for each of the divorcees, but the debts are still liabilities for either party who signed the loans prior to the divorce. In order to release the liabilities, the creditors must agree to release the responsibilities of the debts to the other party in writing. You must request the release of liabilities to each of the creditors because until the creditors agreed, all parties to the debts still share the legal responsibilities.    

By co-signing a loan, the co-signer have a legal responsibility in the event the primary borrower's defaults. For the purpose of a home loan transaction, we will ask our credit reporting agency to update your RMCR (credit report) as co-signer to a loan by providing us a copy of canceled checks showing the primary borrower is making the payment. For information on how to change how you hold title to your home, see The 6 Ways to Hold Title.

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