2007-11-01 08:08:46 · 8 answers · asked by Heather B 1 in Business & Finance ➔ Renting & Real Estate
No, the borrower would need to refinance to get the loan entirely in their name and a new Warranty Deed would need to be recorded to put the property entirely in their name.
2007-11-01 08:12:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, my best friend is in the situation now with her ex. He was able to remove his name from the Title, but his name cannot be removed from the loan until she refinances or sells the house. This makes sense because when you originally got the loan it was based on the income, debt, credit scores, etc. of BOTH parties.
2007-11-01 08:13:43 · answer #2 · answered by jatay 5 · 0⤊ 0⤋
With today's economics and all the foreclosure that are happening...probably not. Definitely not without the consent of the co-borrowers, because the co-borrower would have to refinance and be determined creditworthy, which I believe since they had to have a co-signer, are probably not.
2007-11-01 08:14:26 · answer #3 · answered by dark eyes 7 · 0⤊ 0⤋
short answer no, without ref or selling the bank/lender will not release one person from the loan
2007-11-01 08:13:05 · answer #4 · answered by goz1111 7 · 0⤊ 0⤋
Sorry, but it's not going to happen. Lenders won't do it unless the other party refinances in their own name.
2007-11-01 10:35:20 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
Every lender is different. Talk to the lender. Generally no, but it is possible. Good luck.
2007-11-01 08:11:59 · answer #6 · answered by tone 6 · 0⤊ 0⤋
You could ask the lender, but usually the answer will be "NO".
2007-11-01 08:55:17 · answer #7 · answered by Judy 7 · 0⤊ 0⤋
Simple anwer, No!
2007-11-01 09:08:04 · answer #8 · answered by mazziatplay 5 · 0⤊ 0⤋