If you have a refinance loan with a cosigner is it possible to later take full responsibility of the loan?

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If you have a refinance loan with a cosigner is it possible to later take full responsibility of the loan?

2007-02-15 18:20:32 · 3 answers · asked by blackberry j 1 in Business & Finance ➔ Credit

3 answers

Yes: You contact the mortgage company and ask if they would rewrite the papers. The co-signer will have to sign off on the change. And there are legal fees involve. I would recommend that you wait until you refinance again or sell the property.

2007-02-15 18:31:03 · answer #1 · answered by whatevit 5 · 0⤊ 0⤋

You would need to refinance again without the co-signer.

2007-02-16 02:24:19 · answer #2 · answered by Brian G 6 · 0⤊ 0⤋

Your credit record would have to show that you no longer need a co-signer. No one will take your word for it, they will check your credit.

2007-02-16 02:28:11 · answer #3 · answered by lexus 4 · 0⤊ 0⤋