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When someone cosigns your mortgage can you take them off at anytime?
Wiki User
∙ 15y ago
No. You can't take them off at all. It is the bank that required them to co-sign the loan so that if you don't pay it has someone else who is also obligated to make the payments. You have no power to change that. ==Additional Answer== A co-signer to a mortgage, if not a fee owner, may only be removed with the lender's written permission. Keep in mind that the lender is under no obligation to release the co-signer.
Wiki User
∙ 15y ago
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If someone cosigns on a vehicle loan does it affect that their credit?
Yes. If the original borrower defaults, and the cosigner is unable to take over the debt.
How do you take a partner's name off the mortgage?
You can't take someone's name off the mortgage. The mortgage belongs to the bank and both of you signed a contractual obligation. The mortgage must be paid off and refinanced in one name and the partner must convey their interest to the co-owner. Then the property and mortgage will be in one name.
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
Did gmac mortgage take over wmc mortgage?
GMAC mortgage is no longer in business
What is a commercial mortgage?
A commercial mortgage is not the same as a residential mortgage. A commercial mortgage applies to commercial buildings or businesses. Businesspeople take out commercial mortgages.
You your cousing cosigns your mortgage will he be part owner of the house you are buying?
yes, and if you and your cosigner get into a disagreement. you would have to take them to court to get them off the mortgage if they dont agree. and they could sue you for half of what your mortgage is worth. and if they win you pay them what they won and then they can be taken off. but yes they own half.
If someone cosigns on a vehicle loan does it affect that their credit?
Yes. If the original borrower defaults, and the cosigner is unable to take over the debt.
How do you take a partner's name off the mortgage?
You can't take someone's name off the mortgage. The mortgage belongs to the bank and both of you signed a contractual obligation. The mortgage must be paid off and refinanced in one name and the partner must convey their interest to the co-owner. Then the property and mortgage will be in one name.
How can you buy a house that someone has walked away from?
Buying a house that someone walked away from may seem inviting. Contact the bank that funded the mortgage to see if you can take over the mortgage or see if there is a realtor who can help you.
If your father cosigns for you to get a car is his name on the title and can he take it away?
To my knowledge, yes his name will be on the title and he would have equal rights to the vehicle.
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
Did gmac mortgage take over wmc mortgage?
GMAC mortgage is no longer in business
If Mortgage note is in one persons name and the deed to property is in another can mortgage company foreclose and take both house and land?
Yes. ==Clarification== The mortgage company can only foreclose if the OWNER of the real estate signed the mortgage. If someone other than the owner signed the mortgage the bank has no interest in the property and therefore cannot foreclose.
Who is responsible for my deceased 51-year old son's mortgage on his home?
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
Is it illegal to have someone take over you mortgage payments in Kentucky?
No it's not illegal to take over someone Mortgage Payments. But some people wont do it because they are scared of the Due Or Sale clause which menas that banks can demand payment in full when they find out a transfer in ownership been made. As long as you have the deed transfered over and the owners gave you FULL authority to take over mortgage, and all paper work is filled out signed by both parties there shouldn't be a problem.
Can someone other then the life estate holder take a mortgage out on the property without the life estate holders permission?
No. Only the fee owners can mortgage the property and they can only do so with the written consent of the life tenant.
Do mortgage refinance calculators take points into consideration?
Yes they do. The good mortgage calculators take everything that may effect you mortgage into account. You have nothing to worry about.
