My ex-husband and I have been divorced for two years, but I remained in the home that we bought together. My ex has put me through some financial difficulties with taking me to court to try to take my kids away and due to the legal fees I fell behind in the mortgage and the house is facing foreclosure. My ex wants to save the house and wants us to come up with a written and notarized document stating that he would pay the past due amount in exchange for me doing a quitclaim deed. It would also state that he would assume all financial responsibility for the house until it sales or he refinances. I understand that by signing the quitclaim deed it still leaves me on the mortgage until he refinances or sales. I would like to know if we would be able to come up with a legal document stating those terms and having it notarized. I know by having the document notarized it is a legally binding agreement and the mortgage company will still hold me and him accountable for it, but with him signing the paper taking full responsibility of the mortgage will it be upheld in a court of law if necessary?
I will add that I do not wish to try to get anything from the house, I just want to have my name removed from the mortgage, so how wise will it be to agree to do a quitclaim deed and sign this paper?