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Co-Borrowers |
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I currently have a mortgage with another person's name on it and I would like to have either my name or his removed from the mortgage. Is the only way for one of us to refinance? |
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Lenders usually like to have all co-owners liable on a mortgage, so if both are still owners, a refinance might not work anyhow, though you could always explore the matter with lenders. If one has signed off on the title, the current lender will sometimes allow that name to be removed if the remaining owner can qualify financially to carry the payments alone. If both are still on the title, -- there's still no harm in calling your mortgage company to inquire. |
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Edith
Originally published on October 18, 2007 |
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