Posted on: 02nd Feb, 2009 09:14 pm
5 Yrs ago I entered a partnership on a house. My partner now wants out and I want to know if there is a way to do this. The property is in southern California and is currently upside down. There are currently 2 Loans. 80/20. 5yr Arm. Ends may 2010. I've been qualified for the takeover however the bank wants to see the value of the home.
Partner must be completely removed from the loans
Partner must be completely removed from the loans
welcome hart,
i suppose you've been qualified for the refinance. but the house is upside down. so, chances are the lender won't agree for the refinance once he finds out the appraised value of your home.
since you may not qualify for refinance, therefore, i think you should request the lender for a novation.
i suppose you've been qualified for the refinance. but the house is upside down. so, chances are the lender won't agree for the refinance once he finds out the appraised value of your home.
since you may not qualify for refinance, therefore, i think you should request the lender for a novation.