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Mortgage Community Forums | Loan Talk for First Time Home Buyers | I co-signed for my son on his mortgage. How can I get off because he is deliquent.

I co-signed for my son on his mortgage. How can I get off because he is deliquent.

Posted on: 15th Sep, 2010 02:46 pm
I co-signed for my son on his brand new house. I just found out he has not been paying the mortgage for the last 13 or 14 months. They will be coming after me and my assests. What can I do to protect myself?
welcome djhagan,

your son needs to refinance the mortgage in his name in order to release you from the loan responsibility. as your son is delinquent on the mortgage, it won't be possible for him to refinance the mortgage. thus, it will be difficult for him to refinance the mortgage.
adonis
Posted on: 15th Sep, 2010 08:41 pm
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