Posted on: 08th Jan, 2009 01:52 pm
Just signed up to the forum and I hope someone can answer a few questions. My sister says my name is on the title on her house but not on the loan. But on my credit report the mortgage show's up. Now if I were on the loan is there a way I can get my name out? I have never made any payments towards the house. I was told that my sister can submit some paperwork to the lender showing proof that she has made all the payments on her own. That way, I can get my name out. Is that true? I appreciate any help I can get. Thank you and God Bless.
hi scof0elife!
welcome to forums!
in order to remove your name from the mortgage note, your sister needs to refinance the loan in her name. if your sister has done the refinancing, then your name would have been removed from the loan docs. and even if after refinancing, the loan shows up on your credit report, then you will have to inform the credit bureaus that you are no longer responsible for the loan. you can even ask your lender to do that for you.
feel free to ask if you have further queries.
sussane
welcome to forums!
in order to remove your name from the mortgage note, your sister needs to refinance the loan in her name. if your sister has done the refinancing, then your name would have been removed from the loan docs. and even if after refinancing, the loan shows up on your credit report, then you will have to inform the credit bureaus that you are no longer responsible for the loan. you can even ask your lender to do that for you.
feel free to ask if you have further queries.
sussane
Thanks so much Sussane, another issue has came up. My sister said I was never on the loan but only used me for income purposes. She say's she has documents stating that I am not on the loan. But do you know why it still show's up on my credit report? Is this something the lenders made a mistake on? Also, can I dispute this with the credit agency? Thanks so much for the response Sussane.
Yes, the credit report reflects your name because the sister has used your income in order to get qualified for the mortgage. So, you're actually on the mortgage as a cosigner and not the primary borrower. When the primary borrower defaults, the cosigner pays off the loan in full. Is your sister in default?
