Posted on: 16th Aug, 2010 06:58 am
my son and his wife bought their home with a friend. the friend is getting married now and going to buy a ntoher home. is there a way to get the friend off their mortgage without a refinance. at thit point with the market their house is worth about $10,000 less thatn is owed so they would nto be able to refiance the whole mortgage and do not have the $10,000? thanks
Hi clgolden
One of the solution to this problem is if you find someone else who is willing to co-own the mortgage then it will be possible to refinance te mortgage and you will not be stressed out for the payment of mortgage.
Apart from this I do not find any other aternative to this problem.Because both of youare not able to refinance at this point of time on your own.
One of the solution to this problem is if you find someone else who is willing to co-own the mortgage then it will be possible to refinance te mortgage and you will not be stressed out for the payment of mortgage.
Apart from this I do not find any other aternative to this problem.Because both of youare not able to refinance at this point of time on your own.
They are capable of handling mortgage on their own so really need no on it- it is the part of refinqancing and the house no longer being appraised at the amoutn the owe.