Posted on: 14th Oct, 2009 08:40 am
ive been paying my mortgage on my own since my exboyfriend (coborrower)moved to another state i year ago. he has been removed from the deed. is it possible for me to do a loan modification with my income only since i cant refinance because my mortgage is more than the home value?i really would like to keep my home and have done ok so far but bills are starting to pile up
Hi DEN!
Welcome to forums!
If you try for a loan modification, it would require the co-borrower's signature as well. This is because though the person is not on the property deed, he is still on the mortgage. It would have been better if you could have refinanced the loan and then asked for a modification.
However, I would suggest you to have a word with your lender and check out if he can help you with a loan modification.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you try for a loan modification, it would require the co-borrower's signature as well. This is because though the person is not on the property deed, he is still on the mortgage. It would have been better if you could have refinanced the loan and then asked for a modification.
However, I would suggest you to have a word with your lender and check out if he can help you with a loan modification.
Feel free to ask if you've further queries.
Sussane