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This is a common situation. Unfortunately the divorce judge has no power to modify a loan agreement that you signed with a third party bank. You will still be liable on the note and your credit will still be affected if your wife is late on the payments unless she can qualify for a new loan based on her own credit and income standing.
In other words, the divorce decree does not modify you obligation to the bank. If she defaults, you need to pay for the mortgage or keep it up to date and then sue her in divorce court for any losses you suffer as a result of her not following the terms of the divorce decree.
The only party that has the power to release you from the mortgage is the bank. But they have no incentive to do so unless your wife gets a new loan and pays this one off.
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