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Company Loan Type APR Est. Pmt.

removing father off the mortgage and refinancing

Posted on: 20th Jul, 2011 09:10 am
we have loan wif boa, my father in law singed for it to help us get the loan ( we had another property at that time) . we have been making all payments on time, we would like to remove him now , also the house is woth much less than what we paid for it, is there a chance that we could refinance it at the same time- and possibly pay only what the house is worth ( maybe under obama's law?)
Hi justinemajor,

If there is not equity in the property, you won't be able to refinance the existing mortgage. You should appraise your property and find out if there is any equity in it.

Thanks
Posted on: 20th Jul, 2011 09:13 pm
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