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The only way for a co-borrower to get off a loan is to refinance that loan, and do not include yourself in the refinance process.

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∙ 18y ago

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Related Questions

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"


Can a person's name be removed from a loan as coborrower if he wins a civil lawsuit?

It depends on the circumstances. That depends on whether the bank was a party to the lawsuit. If the court ruled the loan document was a forgery it may be binding on the bank. If you co-signed a loan and sued the other borrower regarding the payments, the bank isn't obligated to take your name off as co-signer. You would need to negotiate with the bank.


What is a coborrower's liability on a Mortgage?

The liability is 100%. Both are 100% responsible for payment.


How do you get out of responsibility for a loan if you are a cosigner?

The loan must be paid off. Until then you are responsible.The loan must be paid off. Until then you are responsible.The loan must be paid off. Until then you are responsible.The loan must be paid off. Until then you are responsible.


How do you get ex boyfriends name off joint auto loan?

You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.


How to get a spouse off a car loan?

The loan must be paid off and refinanced in one nameThe loan must be paid off and refinanced in one nameThe loan must be paid off and refinanced in one nameThe loan must be paid off and refinanced in one name


Can you get out of a co signed home loan?

Only by paying off the loan.Only by paying off the loan.Only by paying off the loan.Only by paying off the loan.


Is a charged off loan collectible?

yes a charge off loan is a collectible.


Can you use loan money to pay off another loan?

Yes, you can use a loan to pay off another loan. This is known as debt consolidation.


How can I take my name off a straw purchase on a car loan?

If you co-signed a car loan you can't take your name off the loan. If you co-sign for someone with no credit or poor credit you are promising to pay off the loan if they don't. The only way to get your name off the loan is to pay it off or have the borrower refinance the loan in their own name.


What is the journal entry to charge-off a loan?

journal entry to write off a loan


How do you remove a co signer from a home loan?

You must pay off the loan.You must pay off the loan.You must pay off the loan.You must pay off the loan.

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