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Refinance the lending agreement without the person's being a participant.
Wiki User
∙ 17y ago
Wiki User
∙ 12y agoThe only way to remove a co-borrower would be to refinance the mortgage with only the borrower on the new note.
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What is a coborrower's liability on a Mortgage?
The liability is 100%. Both are 100% responsible for payment.
What happens when a coborrower stops paying their portion of mortgage?
The other co-signer is responsible for paying the mortgage. If the mortgage goes into default both credit records will be ruined. Both signers are equally responsible for full payment. If one doesn't pay the other must or the bank will foreclose.
Can you remove someone from a deed if you are still paying on the mortgage?
Only if they want to be removed. They have a property right and only they, or a court order, can remove them.
You cant get a mortgage loan can i put your sister on the loan eventhough she live on a different state?
You can add your sister that lives out of state. One of my personal favorite loan for this is the FHA loan. She will be classified as a "Non-Occupying CoBorrower"
My spouse passed away. Do I need to contact the mortgage holder to remove his name from the mortgage?
No, you dont unless he left the house to someone else. then you pay someone who works for the bank to back date the removal of his name from your new morgage. Good luck
How do you get your name removed from the church mortgage loan?
Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.
How do you remove your name from a joint mortgage in Portugal?
You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off.You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off.You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off.You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off.
How do you remove spouse from mortgage if divorcing?
The only way to remove your spouse is by refinancing the mortgage. Your attorney may be able to assist you in negotiating with the bank.
Where can someone find a mortgage adjuster?
A mortgage adjuster is someone who services current mortgages. One can hire such a person via the company they have a mortgage with be it Nationwide or Halifax etc.
How can someone be taken off a mortgage?
The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.
When can you remove the mortgage insurance from your loan?
1. when the bank allows or 2. when you pay off the mortgage.
Can someone on disability cosign a mortgage loan?
You need to ask a mortgage agent.
