If I can not refinance to take my name off my joint mortgage, can I "SELL" my position to the co-owner? - release of liability mortgage
I want my mortgage on my co-owner (release, transfer to the ownership and responsibility for a loan) to complete, but I think you can not refinance because of the high LTV ratio. Our Mortgage $ 340K, but I do not think that it assessed for $ 390K, which could come to refinance. Can you "sell" me the co-owner? The signatories will be my co-owner of origin, with a new owner. What options do I have? Please help ....!
Tuesday, January 19, 2010
Release Of Liability Mortgage If I Can Not Refinance To Take My Name Off My Joint Mortgage, Can I "SELL" My Position To The Co-owner?
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2 comments:
They always talk about the refinancing.
I was in exactly the same position. The answer is simple: to move as co-owner, you must replace it and buy a new loan for the other two types of loans. If an owner moves away, then the other party must sue for the full title, all the time to make the total payments. You can "sell" what they want, including his half of the title of his co-owner can not sell but their 1 / 2 of the banks and mortgage banks without their permission and I doubt that any bank today to give "hui to this type of transfer. If you live in California, you might want to get married and then apply for divorce and out with 1 / 2 of fairness and his former partner with the full mortgage payment, it happens all the time.
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