Posted on: 10th Mar, 2011 05:27 pm
my husband and i are looking to buy our own home but something in in the way. my husband cosigned for his mothers home (we live there and so does she) to help her out since she doesn't have much credit and couldnt refinance on her home. (the property was in her ex-husbands name). this issue with my husband on the mortgage is preventing us from getting preapproved for our own place. please help! is there anything we can do other than have her refi with someone else?
Hi vlo,
Your mother-in-law can refinance the loan with help of someone else and remove your husband from the mortgage. Once his name is removed from the mortgage, both of you will be able to take out a loan on your own.
Thanks
Your mother-in-law can refinance the loan with help of someone else and remove your husband from the mortgage. Once his name is removed from the mortgage, both of you will be able to take out a loan on your own.
Thanks