Posted on: 18th Jul, 2010 05:30 pm
my sister and i purchased a home 5 years ago. my sister is on the loan but we are both on the deed. she wants to move out and live the house. i do not want to lose the house, but will need to do a loan modification to afford the payments on my own. can i do a loan midification even if i am not on the loan? or what other options do i have. we can not refinance nor can we sell because we owe more than what the house is worth at this time. what options do i have?
Hi love4courtney,
As your name is not on the mortgage docs, it may not be possible for you to modify the home loan. Nevertheless, I would suggest you to contact your lender and take his opinion in this matter. He may guide you in taking the right steps in this regard.
As your name is not on the mortgage docs, it may not be possible for you to modify the home loan. Nevertheless, I would suggest you to contact your lender and take his opinion in this matter. He may guide you in taking the right steps in this regard.