My ex-spouse was awarded the house in the divorce decree. I want the mortgage off my credit report. What has to be done to corre

The divorce decree is simply an agreement between you, your ex-spouse and the court regarding who will take responsibility for paying the existing debts. The divorce decree doesn’t nullify or amend the contract you have with the lender or cause the entry for the account to change on your credit report. To remove one party from the contract means that the loan would need to be refinanced. That means your ex-wife would need to qualify on her own to refinance the mortgage into her name only, the terms would be based on her credit history and the current market rates.

Scott Evans, CCIM, CRMS, founder of The Family Mortgage Team, which offers tools needed to easily understand and compare home financing and refinancing options. Visit his website for more information.