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how to remove name from loan & deed without lawyer

Posted on: 03rd Feb, 2011 01:26 pm
co borrower was not left 1/2 property in will. Name was added to loan
and deed through mistake of parent Co borrower does not pay any on loan, insurance, or taxes and has not paid in years. want name off of loan and deed without refinancing due to non payment. :(
hi travelbug,

you can transfer the property to the other borrower with the help of a quitclaim deed. then you should ask the owner of the property to refinance the mortgage in his or her name.

thanks
Posted on: 03rd Feb, 2011 07:53 pm
Travelbug, as James said refinancing is the only way to remove their name and they will have to consent and sign a transfer instrument releasing their interest in the property.
Good luck!
Posted on: 06th Feb, 2011 12:38 pm
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