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Company Loan Type APR Est. Pmt.

Removal of my father with alzhiemers name of mortgage

Posted on: 06th Mar, 2012 07:59 am
After my brother abused poa mybfather left to him and I he withdrew over 400,000$, and remortgaged the home that was already paid off.. For the past three years my mother. My husband and myself have tried to keep up with payments . At a 7% intrest on the mortgagewe financially cannot keep up anymore. In order to get my father themproper care in a home we must remove his name from mortgage which him and my mother are on .. What will happen ?is that even possible .. My father Is progressively getting worse with alzhiemers and dimentia he is legally incompetent
hi lorena,

if you want to remove your father from the mortgage, someone else will have to refinance the mortgage in his/her name. in order to refinance the mortgage, you need to have a good credit score and income as well as a stable employment history.

thanks
Posted on: 06th Mar, 2012 07:55 pm
Hi Lorena!

Welcome to forums!

I agree with the opinion of James. Someone has to refinance the mortgage in order to remove your father's name from the mortgage docs. However, you may even contact the lender and check out if it will be possible for you to assume the loan.

Feel free to ask if you've further queries.

Sussane
Posted on: 08th Mar, 2012 09:32 pm
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