What is the best way to remove someone’s name from a mortgage if they are the co-borrower refinancing w o /
My mother is the borrower and I am the co-borrower. She has always paid on the loan. It is best to qualify for both of us. I am willing to relocate and wish to withdraw my name so I can get something. I really did not she (my mother) to go through the process of refinancing, as things are now.
OK, I asked another question a few minutes, which led me to this path. I first asked: “My friend / partner and I were together a long time about 5 years ago we bought a house for my name because he has no credit, it was at the height of the housing bubble and my interest rate is almost 7%, we … ‘d like our mortgage payment lower, and I wonder if I can sell “my house” because it fulfills the conditions for a mortgage with only 5% today with good credit. I do not know if the house is worth what we bought it for, but he did not lose much value (maybe 10k) if at all. … So if the house is valued at say, 160k and 165k, I still owe on my mortgage, I can sell it at 165k could reduce our payments? How does it work? Are there pitfalls I give? “But it seems that this action plan eventually cost us more, especially since it is not our primary residence. Some people have suggested I look into refinancing a lower interest rate, but my tax return for 2009 shows that the adjusted gross 12k (I’m self employed). I doubt my bank would be ready to adapt to such income. So if I apply for refinancing, I can register a co-signer, even if I’m the only one listed on the deed? Thank you for all the useful information.