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Mortgage Community Forums | Announcements Feedback and Our Pub | my wife and i with a friend bought a house and all three names are on the house and now he is moving

my wife and i with a friend bought a house and all three names are on the house and now he is moving

Posted on: 04th May, 2009 06:35 am
my wife and i with a friend bought a house and all three names are on the house and now he is moving...and we want to get his name off the mortgage what is the easist way to do this
in order for the friend to be absolved of responsibility on the mortgage, you'll have to refinance that loan; unless you have a real forgiving lender who'd be willing to take other steps to accomplish this for you.
gmakerley
Posted on: 04th May, 2009 07:19 am
hi tbone,

i agree with george. in order to remove your friend's name from the mortgage, you'll have to refinance it. however, you can also speak to the lender about novation which is also a way of transferring the mortgage from one person to another.

thanks
jameshogg
Posted on: 04th May, 2009 10:19 pm
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