is it posible to step out of a loan?

Me and my father purchased a home a few months ago. I was the cosigner to back his credit.We came from Cuba 3 years ago only but i took more care on building my credit than him.But recently i pulled my credit online and it did not show any negative or adverse information,my debt to income ratio was tight.The thing is i already have a bunch of stuff on my name including a 07 toyota,and im getting married next year and my fiance is a fulltime student and eventually i will need to buy a car for her,furniture and in a not so far future my own house and;having that mortgage debt together with my dad might overload my credit,and keep from getting future loans.My question is:is there any way that one of the cosigners can step out of the loan.Can one of them put in a document that he will asume the whole responsability releasing the other one?

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