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You got a loan for your dad how can you get it out of your name and in his?
Wiki User
∙ 15y ago
If your are referring to a co-signed loan, where you guaranteed a loan for your father, then you are generally not able to remove yourself from the loan until it is repaid unless the lender agrees, and determines your father no longer requires a co-signer.
To transfer a loan that is completely in your name from yourself to your father, he would have to obtain approval from the lender. Generally, a lender is not obligated to consider this unless the loan was originally issued as "assumable".
Most mortgages, for instance, are assumable. This means that you could sell your house by having a qualified buyer assume your mortgage upon approval from your bank.
Wiki User
∙ 15y ago
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