Posted on: 24th Mar, 2009 10:47 am
If i co-sign for someone and the house is re-financed do I still have responsibility?...I co-signed on an original mortgage and the house has been refinanced a number of times. Am I still responsible?
If you co-signed or were a coborrower on a mortgage, you are responsible to pay that debt as same for the borrower.
However, if that mortgage was 'refinanced' and you did NOT co-sign on the new loan, you are no longer responsible. Because ..... The original loan would have been paid in full from the refinance loan. You are then released from lien.
However, if that mortgage was 'refinanced' and you did NOT co-sign on the new loan, you are no longer responsible. Because ..... The original loan would have been paid in full from the refinance loan. You are then released from lien.
Hi lcoleman,
I agree with info. While refinancing the loan if your name is not included in the mortgage docs, then you will not be responsible to pay it off. The lender cannot demand the mortgage payments from you.
I agree with info. While refinancing the loan if your name is not included in the mortgage docs, then you will not be responsible to pay it off. The lender cannot demand the mortgage payments from you.
