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How to remove a co-owner from a loan (mortgage)

Posted on: 21st Sep, 2009 08:57 pm
My mom and I are co-owners on our first home. I have since had two kids and am looking to move out on my own with my family. How do I get off of the loan I currently have so that I can pursue other living arrangements? (I am not sure what topic I should have chosen for this question...)
your mom needs to refiance the loan in her name and your will be free fromthe mortgage

if you do nto want o have nay ownership of the property then you need to give her a quit claim deed
Posted on: 21st Sep, 2009 10:04 pm
hi kerigrove,

i agree with sunny. your mother will have to refinance the loan in her name in order to remove you from the loan. however, in order to refinance the loan, she should have a good credit score and income. apart from this, the property should also have equity in it.
Posted on: 21st Sep, 2009 11:06 pm
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