Posted on: 06th Apr, 2011 07:42 am
I am on a mortgage with my mother. she is not holding up her end of the bargain as far as the house is concerned. She has been late on her half of the mortgage since December. I need to get my name off of this mortgage. !) I am moving to Texas in July @) she is destroying my credit. What are my options????
Other than refinancing the loan into just her name nothing. When you signed with her you guaranteed that even if she was unable to pay you would. If you move and want to but you'll also have to qualify with that debt.
hi guest,
your mother should refinance the mortgage in her name. it will help you remove your name from the mortgage. however, as she is delinquent in her payments, it won't be possible for her to refinance the loan. you might file a partition lawsuit so that you can sell off the property. after the property is sold off, the mortgage lender will be paid off first and then the rest of amount, if any, will be divided between both of you.
thanks
your mother should refinance the mortgage in her name. it will help you remove your name from the mortgage. however, as she is delinquent in her payments, it won't be possible for her to refinance the loan. you might file a partition lawsuit so that you can sell off the property. after the property is sold off, the mortgage lender will be paid off first and then the rest of amount, if any, will be divided between both of you.
thanks