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What type of letter should be sent to a mortgage company when your partner agrees on you coming off the mortgage?
Wiki User
∙ 10y ago
First you need to understand that a mortgage company will not normally let one party to a joint mortgage contract off the mortgage. You and your partner can not agree to change the mortgage between you, your contract is with the Mortgage company, NOT YOUR PARTNER.
It is not in the Mortgage companies interest to allow a change to an existing mortgage as you are BOTH liable for the payments - if one of you stops paying they will go after the other for all the money.
To get out of the situation you have to repay all the money you borrowed and get a new mortgage in just one of your names. This usually means one or other partner has to buy the other out.
Wiki User
∙ 10y ago
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