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The ONLY way to do this is to refinance the loan. The loan was made using two people to qualify and take financial liablilty. It is a legal contract and must be satisfied by a new contract. This can be done by the existing lender or a new lender, but take into consideration that his qualifications will not longer be considered. If he agrees, you can remove him from title (ownership of the home) but this will NOT relieve anyone of any financial responsibilities. Additionally, many lenders have stipulations in the loan documents that prohibits changes to the title of the home.
What else can I help you with?
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.
Is it possible to remove your wifes name of a mortgage?
You would need to pay off that mortgage and refinance in your sole name.
What happen when wife name is not on the mortgage after a divorice?
After the divorce why do you need your wife name on the mortgage. You should work to remove the wife name from the mortgage and have sole responsibility towards it unless you guys worked out a different arrangement.
How can you get your name off a mortgage loan?
Generally, to remove one person from a mortgage that person must transfer their interest to the other and then the remaining sole owner must refinance the property in their sole name. The existing mortgage must be paid off.
How can I have my daughter's name removed from a mortgage?
The lender owns the mortgage and a lender will not generally remove any name from the obligation to pay. The only way for you to get your daughter's name off the debt is to pay the loan off and refinance in your own name.
How can you remove the cosigner from a mortgage?
You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.
Can you remove your spouse's name from the property if separated?
No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.
Can you remove your name from deed in Ireland?
Removing a name from a deed is fairly easy. However, if they are also on a mortgage on that property, it may not be allowed.
What is the cost of an appraisal to remove PMI from my mortgage?
The cost of an appraisal to remove PMI from your mortgage typically ranges from 300 to 500.
If you have signed a quit claim deed as the grantor is there any way to force the grantee to refinance the mortgage loan to remove your name from the monitary obligation?
Unfortunately, if you've signed your rights away you are only removed from title and are still obligated to the mortgage. The only way to get out of the mortgage is for the person holding title to refi and have your name removed from the mortgage.
How can you transfer an existing mortgage out of your own name and into the name of an LLC?
You cannot transfer a mortgage since the mortgage is owned by the bank. The bank is unlikely to remove the obligation from you to an LLC. You would need to pay off the existing mortgage, transfer the property to the LLC, and then refinance under the LLC . . . if the bank will allow the transfer of title and new mortgage.
When can I remove PMI from my mortgage?
You can typically remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and the increase in your home's value.
