Is novation still possible??

[Administrator]

Is novation still possible to do? My ex-husband and I still own an investment property together. We put it up for sale to no avail and probably owe more than it's worth now. It's currently being rented to one of his friends, with the hope they will buy it in the future. However, they have a BK and foreclosure on their credit and it could be a few years before they could qualify to buy it. I just don't want to be financially responsible for it anymore. He can't refi the home into just his name and I’m scared that this is going to turn into a huge ugly mess down the road. Do you have any suggestions?


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(Source: mortgagefit.com)